Eris is trying to figure out if there is a correlation between the cost of the online advertising and the monthly sale of online store. She has the survey results for 7 online stores for the last year. She has now to determine if there is a significant correlation between the monthly e-commerce sales and the online advertising costs. The following table represents the survey results from the 7 online stores. Online Monthly E- Online Advertising Store commerce Sales Dollars (1000 s) (in 1000 s) 1 368 1.7 2 340 1.5 3 665 2.8 954 5 331 1.3 556 2.2 7 376 1.3 Show your step-by-step and complete solution. Use 3 decimal places for all computation and rounding-off of values.

Eris is trying to figure out if there is a correlation between the cost of the online advertising and the monthly sale of online store. She has the survey results for 7 online stores for the last year. She has now to determine if there is a significant correlation between the monthly e-commerce sales and the online advertising costs. The following table represents the survey results from the 7 online stores. Online Monthly E- Online Advertising Store commerce Sales Dollars (1000 s) (in 1000 s) 1 368 1.7 2 340 1.5 3 665 2.8 954 5 331 1.3 556 2.2 7 376 1.3 Show your step-by-step and complete solution. Use 3 decimal places for all computation and rounding-off of values.

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

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.5: Correlation And Causation

Problem 15PPS

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Question

Pearson Moment Product Correlation
note: You may use Excel

Eris is trying to figure out if there is a correlation between the cost of the online advertising and the monthly sale of online
store. She has the survey results for 7 online stores for the last year. She has now to determine if there is a significant
correlation between the monthly e-commerce sales and the online advertising costs.
The following table represents the survey results from the 7 online stores.
Online Monthly E-
Online Advertising
Store
commerce Sales
Dollars (1000 s)
(in 1000 s)
368
17
2
340
15
665
2.8
4
954
5
5
331
1.3
556
2.2
7
376
1.3
Show your step-by-step and complete solution. Use 3 decimal places for all computation and rounding-off of values.

Definition Definition Relationship between two independent variables. A correlation tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

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