Answered: Calculate Pearson’s Correlation…

Math

Statistics

Calculate Pearson’s Correlation Coefficient

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

QUESTION TWO

A car dealer at Ford has recorded the unit prices and quantities sold of four models of particular make of a car in 2012. The quantities sold and unit selling price for 2012 respectively given in the following table:

	Price (Y)	Quantity (X)
A	40	10
B	25	50
C	20	35
D	10	15

Required:
Calculate Pearson’s Correlation Coefficient

Definition Definition Statistical measure used to assess the strength and direction of relationships between two variables. Correlation coefficients range between -1 and 1. A coefficient value of 0 indicates that there is no relationship between the variables, whereas a -1 or 1 indicates that there is a perfect negative or positive correlation.

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