The following table shows different prices of a product at certain weeks. x (Weeks) y (Price($)) 4 33.25 5 31.6 6 31.15 7 26.9 8 26.85 9 24.5 10 21.85 11 21.1 (a) Based on the data shown above, compute the correlation coefficient accurate to three decimal places. r= (b) Find the proportion of the variation in Price that can be explained by the variation in the values of Weeks. Report your answer as a percentage accurate to one decimal place. (Example: If the answer is 0.1234, you would enter 12.3 without the percent symbol.) r2= %
The following table shows different prices of a product at certain weeks. x (Weeks) y (Price($)) 4 33.25 5 31.6 6 31.15 7 26.9 8 26.85 9 24.5 10 21.85 11 21.1 (a) Based on the data shown above, compute the correlation coefficient accurate to three decimal places. r= (b) Find the proportion of the variation in Price that can be explained by the variation in the values of Weeks. Report your answer as a percentage accurate to one decimal place. (Example: If the answer is 0.1234, you would enter 12.3 without the percent symbol.) r2= %
The following table shows different prices of a product at certain weeks. x (Weeks) y (Price($)) 4 33.25 5 31.6 6 31.15 7 26.9 8 26.85 9 24.5 10 21.85 11 21.1 (a) Based on the data shown above, compute the correlation coefficient accurate to three decimal places. r= (b) Find the proportion of the variation in Price that can be explained by the variation in the values of Weeks. Report your answer as a percentage accurate to one decimal place. (Example: If the answer is 0.1234, you would enter 12.3 without the percent symbol.) r2= %
The following table shows different prices of a product at certain weeks.
x (Weeks)
y (Price($))
4
33.25
5
31.6
6
31.15
7
26.9
8
26.85
9
24.5
10
21.85
11
21.1
(a) Based on the data shown above, compute the correlation coefficient accurate to three decimal places.
r=
(b) Find the proportion of the variation in Price that can be explained by the variation in the values of Weeks.
Report your answer as a percentage accurate to one decimal place. (Example: If the answer is 0.1234, you would enter 12.3 without the percent symbol.)
r2= %
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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