For example:

Mazda 1000.50 euro

Peugeot 2000.23 euro

Mazda 1233.43 euro

Citroen 1323.34 euro

Mazda 1345.34 euro

What statistical tool should I analyse to verify if there is any relationship between the vehicle make and these costs.

Regards

- Thread starter maltesedog
- Start date

For example:

Mazda 1000.50 euro

Peugeot 2000.23 euro

Mazda 1233.43 euro

Citroen 1323.34 euro

Mazda 1345.34 euro

What statistical tool should I analyse to verify if there is any relationship between the vehicle make and these costs.

Regards

Sorry I don't really know what you mean by "statistical tool". But typically to my understanding if you want to know if there is a meaningful relationship between to variable you do a correlation test where the correlation coefficient or r-squared should range between +1 & -1 if it is 0 than there is no relationship, other wiser they could be strongly or weakly related in either a positive or negative way, hence the +1, -1. The closer to 1 either positive or negative the stronger the relationship.

Hope this helps, hope I'm right (I think I am).

It is always important to point out that correllation does not imply causality. Just because two things are correllated does not imply that they have any meaningful relationship.

There is no "statistical tool" that will provide you with a relationship between a character string and a number except the lookup table which you presented.

There is no "statistical tool" that will provide you with a relationship between a character string and a number except the lookup table which you presented.

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Arrange the makes and corr prices, then compare means for each statistically. Example it it were 2 makes I would use t test. If you have more than 2 you can use relevant test, I am not sure - analysis of variance.....