Consider the relationship between the number of bids an item on eBay received and the item's selling price. The following is a sample of 5 items sold through an auction. Price in Dollars 20 23 29 38 41 Number of Bids 14 15 16 17 19 Step 3 of 3: Calculate the correlation coefficient, r. Round your answer to three decimal places.

Managerial Economics: A Problem Solving Approach
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Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
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Chapter18: Auctions
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Consider the relationship between the number of bids an item on eBay received and the item's selling price. The following is a sample of 5 items sold through an auction.
Price in Dollars 20 23 29 38 41
Number of Bids 14 15 16 17 19
Transcribed Image Text:Consider the relationship between the number of bids an item on eBay received and the item's selling price. The following is a sample of 5 items sold through an auction. Price in Dollars 20 23 29 38 41 Number of Bids 14 15 16 17 19
Step 3 of 3: Calculate the correlation coefficient, r. Round your answer to three decimal places.
Transcribed Image Text:Step 3 of 3: Calculate the correlation coefficient, r. Round your answer to three decimal places.
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