Conclusion what is it Essay
The price of gasoline is an absolute need which the US population in general is trying to curtail - Conclusion what is it Essay introduction. Since SUVs consume gas as their fuel, it should be expected that as the gas prices increase there should be a reduction in the number of SUVs sold.
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This leads to a hypothesis that the regression analysis performed would yield a negative slope on the sales of SUVs plotted against the price of gasoline. For there to be a strong predictability and reaction in the sales of SUVs with the price of gasoline, I would expect the line to be covering a large number of points of observation i.e. the data plots would be arranged very close to being in a straight line. The following graph displays the expected regression line between the sales of SUVs and the price of gasoline.
However, the graph plot on the previous page displays a trend far from linear or in a particular direction. The regression analysis performed on the dataset leads to the conclusion that there is no identifiable strong negative relationship between the sales of the SUVs and the price of gasoline. The absence of a relationship that can be explained by the factor of predictability and dependence (regression) leads to the conclusion that the prices of gasoline do not affect the sales of SUVs. This means that the price of gasoline cannot be used be used as a good predictor for the sales of SUVs. There is no evidence of the prices of gasoline being a predicting factor for the sales of SUVs.
This leads to the secondary inference that there are a lot of other moderating factors that reduce the effect of rising gas prices on the sales of SUVs. Hypothetically speaking, a rise in the price of gasoline should decrease the sales of SUVs and vice-versa. However, it was observed from the regression plot obtained in the previous section that there was no such dependence between the two variables. In other words, the sale of SUVs was not dependent on the price of gasoline, although, theory suggests that there should have been a negative dependence of the sales of SUVs on the price of gasoline.
Thus, in conclusion, I would like to state the fact that there is no evidence of any linear correlation between the sales of SUVs and the price of gasoline. This is displayed by the regression plot obtained that shows the data points scattered around in no identifiable or mathematical pattern. The absence of any identifiable pattern in the distribution leads to the conclusion that the sales of SUVs is independent of the price of gasoline.
1. Nathan, J. (1995). Statistical Inference. Chicago: Delton Publishers Inc.
2. Walpole, R. E. (2002). Introductory Statistics. Los Angeles: Kraft Publishers.