The following table gives the total sales (revenue) and profit for 8 retailers. Construct a scatter diagram for the data and stat whether sales and profit for these companies have no correlation, a positive correlation, or a negative correlation.

Answer 1

To construct a scatter diagram for the given data, we need the values for total sales (revenue) and profit for 8 retailers. Unfortunately, you haven't provided the table or the data, so it is not possible to create the scatter diagram and determine the correlation between sales and profit.

However, if you could provide the data, we could plot it on a scatter graph and analyze the relationship between sales and profit. On a scatter diagram, if the points form a pattern where they cluster around a line sloping upwards from left to right, it suggests a positive correlation. This means that as sales increase, so does the profit. Conversely, if the points form a pattern where they cluster around a line sloping downwards from left to right, it suggests a negative correlation. This means that as sales increase, the profit decreases. If there is no apparent pattern or clustering, it suggests no correlation between sales and profit.

Once the data is available, we can interpret the scatterplot and make conclusions about the correlation between sales and profit.