Find the Pearson product-moment correlation coefficient of the data set shown below: Where the car price is Y and car age is the X. Note: Round off your answers to four decimal places. No spaces in between characters. Example format for the Final answer: r=0.12

Find the Pearson product-moment correlation coefficient of the data set shown below: Where the car price is Y and car age is the X. Note: Round off your answers to four decimal places. No spaces in between characters. Example format for the Final answer: r=0.12

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter5: Exponential And Logarithmic Functions

Section5.5: Exponential And Logarithmic Models

Problem 38E: Carbon Dating The ratio of carbon-14 to carbon-12 in a piece of paper buried in a tomb is R=1/1311....

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Question

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Find the Pearson product-moment correlation coefficient of the data set shown below:
Where the car price is Y and car age is the X.
Note: Round off your answers to four decimal places. No spaces in between characters.
Example format for the Final answer: r=0.12

Car Age (in years)
Price (in dollars)
4
6300
4.
5800
5
5700
4500
7
4500
7
4200
8
4100
9
3100
10
2100
11
2500
12
2200

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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