Scatter Plot Provide a link for a picture of a scatter plot where the r value is not given. Estimate what you think the r value would be and explain why. Correlation and Causation Read the information in Chapter 3 of your text on correlation and causation and Example 6 titled %u201CSpurious Correlation by Lurking Variables%u201D. This describes an observed correlation that may be caused by the influence of a third variable. Describe and cite a study where the correlation may be spurious. Alternately, you may choose to create and describe your own study where the observed correlation may be influenced by a third variable. Solution Please provide the link for the Text. I couldn\'t find it anywhere... I\'d be happy to help you...

1. Scenario -
Suppose that after you review the history of many successful entrepreneurial ventures, a few of
them stand out in your mind as interesting:
- Fit after Fifty exercise studios that support the health of older Americans.
- Visionics biometric software that can assist in identifying runaways, shoplifters, or terrorists.
- Nanostring's molecular bar coding enterprise.
- The tourism industry at Mount St. Helens, a volcano in the United States that erupted in 1980.
All of these businesses resulted from entrepreneurs who were able to spot a(n)
A. Adventure.
B. Opportunity.
C. Strength.
D. Threat.
E. Benchmarking target.
Fit after Fifty is an example of a business that was created as a result of
A. Technological discoveries.
B. Demographic changes.
C. Economic dislocations.
D. Calamities.
E. Government initiatives and rule changes.
The tourism industry at Mount St. Helens is an example of business that was created as a result
of
A. A technological discovery.
B. Demographic changes.
C. An economic dislocation.
D. A calamity.
E. Government initiatives and rule changes.
5.In order for family-managed businesses to survive and prosper, management guru Peter
Drucker advises them to
A. Grow as aggressively as possible.
B. Discontinue hiring family members.
C. Fill at least one key position with a non-family member.
D. Sell the business as soon as possible.
E. Allow for some diminished performance by family members.
Scenario -

2. Ashok has begun the planning process for his entrepreneurial venture. He has completed an
assessment of his vision to operate a full-service shuttle service for the elderly, for which he feels
there is a strong market. He has a good understanding of the availability of his own resources and
his personal traits to manage the business. Now he is prepared to start compiling functional plans
for marketing, finance, and human resources so that he can obtain the financing he will need to
start. He is also contemplating how to develop the right reputation and create the proper
networks to find employees and customers as well as get advice from fellow businesspeople.
It appears that Ashok has completed which formal stage of the planning process?
A. An environmental analysis.
B. A SWOT analysis.
C. A promotional plan.
D. An opportunity analysis.
E. A business plan.
If, after the current assessment, Ashok still believes in the potential of the venture, he should
proceed with which step of the planning process?
A. An environmental analysis.
B. A SWOT analysis.
C. A promotional plan.
D. An opportunity analysis.
E. A business plan.
Solution
Scenerio 1
1). B. Opportunity, since these were all opportunities which these entrepreneurs can bank upon.
2) B. Demographic changes, as it pertains to American population which is getting old.
3) D. A Calamity, since eruption of Volcano is a natural calamity.
5) C. Fill at least one key position with a non-family member.
Scenerio 2
E. A business plan
B. A SWOT analysis (Strength Weakness Opportunity Threat)