Consider the following scatterplot that shows one year's total sales (revenue) and profits for eight large retailers in a country. Estimate the correlation coefficient and determine whether there appears to be a correlation between sales and profits. 175 350 Sales (billions of dollars) Profits (billions of dollars)

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Consider the following scatterplot that shows one year's total sales (revenue) and profits for eight large retailers in a country.
Estimate the correlation coefficient and determine whether there appears to be a correlation between sales and profits.
12-
6-
175
350
Sales (billions of dollars)
There is a
V correlation between sales and profits, and the correlation coefficient is approximately
perfect positive
strong positive
strong negative
weak positive
perfect negatíve
weak negative
Click to sel
Profits (billions of dollars)
Transcribed Image Text:Consider the following scatterplot that shows one year's total sales (revenue) and profits for eight large retailers in a country. Estimate the correlation coefficient and determine whether there appears to be a correlation between sales and profits. 12- 6- 175 350 Sales (billions of dollars) There is a V correlation between sales and profits, and the correlation coefficient is approximately perfect positive strong positive strong negative weak positive perfect negatíve weak negative Click to sel Profits (billions of dollars)
Consider the following scatterplot that shows one year's total sales (revenue) and profits for eight large retailers in a country.
Estimate the correlation coefficient and determine whether there appears to be a correlation between sales and profits.
12-
6-
0.
175
350
Sales (billions of dollars)
There is a
correlation between sales and profits, and the correlation coefficient is approximately
0.93.
-0.24.
1.
-0.93.
0.24.
1.
Click to select your answer(s).
Profits (billions of dollars)
Transcribed Image Text:Consider the following scatterplot that shows one year's total sales (revenue) and profits for eight large retailers in a country. Estimate the correlation coefficient and determine whether there appears to be a correlation between sales and profits. 12- 6- 0. 175 350 Sales (billions of dollars) There is a correlation between sales and profits, and the correlation coefficient is approximately 0.93. -0.24. 1. -0.93. 0.24. 1. Click to select your answer(s). Profits (billions of dollars)
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