3. The following sample contains values of the price and quantity sold of a particular commodity. Use quantity sold as the dependent variable Y. Price (X) Quantity sold (Y) 6.00 3.00 7.00 1.00 53 67 48 76 2.00 8.00 70 28 Σ x=27, Σy=342, Σ m2 =163, Σ wy=1295, Σ υ = 21062, n = 6.

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3. The following sample contains values of the price and quantity sold of a particular
commodity. Use quantity sold as the dependent variable Y.
Price (X)
Quantity sold
(Y)
6.00 3.00 7.00
1.00 2.00 8.00
53 67 48 76
70 28
Σx=27, Σ y=342, Σ x²=163, Σ xy=1295, Σ y² = 21062, n = 6.
c. Find the sample correlation coefficient r and interpret.
O- 0.957 and relationship between x and y is weak.
0.957 and relationship between x and y is weak.
- 0.957 and relationship between x and y is strong.
0.957 and relationship between x and y is strong.
Transcribed Image Text:3. The following sample contains values of the price and quantity sold of a particular commodity. Use quantity sold as the dependent variable Y. Price (X) Quantity sold (Y) 6.00 3.00 7.00 1.00 2.00 8.00 53 67 48 76 70 28 Σx=27, Σ y=342, Σ x²=163, Σ xy=1295, Σ y² = 21062, n = 6. c. Find the sample correlation coefficient r and interpret. O- 0.957 and relationship between x and y is weak. 0.957 and relationship between x and y is weak. - 0.957 and relationship between x and y is strong. 0.957 and relationship between x and y is strong.
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