Required:1. Create a scatter plot for the consumption & price.2. Calculate the correlation coefficient (r) of consumption & price.3. Between the consumption & price, is there a significant linear correlation? Utilize a = 0.05. Ice cream consumption is shown in the given data.The price of the ice cream is in dollar and the consumption of ice cream in in pints percapita per week.Consumption 0.386 0.474 0.393 0.425 0.406 0.344 0.327 0.288 0.269 0.256Price1.351.501.391.491.361.311.381.341.331.19

Answered: Image /qna-images/answer/a1fed071-cbaf-4fdf-9154-af027661910f.jpg

Required: 1. Create a scatter plot for the consumption & price. 2. Calculate the correlation coefficient (r) of consumption & price. 3. Between the consumption & price, is there a significant linear correlation? Utilize a = 0.05.

Required: 1. Create a scatter plot for the consumption & price. 2. Calculate the correlation coefficient (r) of consumption & price. 3. Between the consumption & price, is there a significant linear correlation? Utilize a = 0.05.

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

Ice cream consumption is shown in the given data.
The price of the ice cream is in dollar and the consumption of ice cream in in pints per
capita per week.
Consumption 0.386 0.474 0.393 0.425 0.406 0.344 0.327 0.288 0.269 0.256
Price
1.35
1.50
1.39
1.49
1.36
1.31
1.38
1.34
1.33
1.19

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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