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Past data on household income and expenditure reveal that: (a) The average absolute increase in income in relation to increase in expenditure is $ 1.5 crore and (b) the average absolute increase in expenditure in relation to increase in income is $ 0.50 crore. Find the co-efficient of correlation between household income and expenditure.

Past data on household income and expenditure reveal that: (a) The average absolute increase in income in relation to increase in expenditure is $ 1.5 crore and (b) the average absolute increase in expenditure in relation to increase in income is $ 0.50 crore. Find the co-efficient of correlation between household income and expenditure.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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 2AGP
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Past data on household income and expenditure reveal that: (a) The average absolute increase in income in relation to increase in expenditure is $ 1.5 crore and (b) the average absolute increase in expenditure in relation to increase in income is $ 0.50 crore. Find the co-efficient of correlation between household income and expenditure.
Transcribed Image Text:Past data on household income and expenditure reveal that: (a) The average absolute increase in income in relation to increase in expenditure is $ 1.5 crore and (b) the average absolute increase in expenditure in relation to increase in income is $ 0.50 crore. Find the co-efficient of correlation between household income and expenditure.
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