CPI represents a country’s Consumer Price Index and MS represents the country’s Money Supply (in £ billions) over a 10-year period. CPI MS 95 8 99 9 100 10 105 12 110 15 120 20 122 20 123 21 123 21 124 21 Calculate the Pearson correlation coefficient between the two variables. Comment on the strength of the relationship between CPI and MS.

CPI represents a country’s Consumer Price Index and MS represents the country’s Money Supply (in £ billions) over a 10-year period. CPI MS 95 8 99 9 100 10 105 12 110 15 120 20 122 20 123 21 123 21 124 21 Calculate the Pearson correlation coefficient between the two variables. Comment on the strength of the relationship between CPI and MS.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.6: Regression And Median-fit Lines

Problem 4PPS

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Question

CPI represents a country’s Consumer Price Index and MS represents the country’s Money Supply (in £ billions) over a 10-year period.

CPI MS

95 8

99 9

100 10

105 12

110 15

120 20

122 20

123 21

124 21

Calculate the Pearson correlation coefficient between the two variables.
Comment on the strength of the relationship between CPI and MS.

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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