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Table 10.1 : A Company's Advertising Expenses and Sales Data ( in million S)[Years- 1995|1996|1997|1998 1999|2000|2001|2002|20013|2004Advertise 6 5 5 4 3 2 2 1.5 1.0 0.5mentexpensesSales (Y) 60 5 50 40 35 30 20 15 11 10

Question

The data of advertisement expenditure (X) and sales (Y) of a company for 10 years is shown in the table below. Determine the correlation coefficient between X and Y.

Table 10.1 : A Company's Advertising Expenses and Sales Data ( in million S)
[Years- 1995|1996|1997|1998 1999|2000|2001|2002|20013|2004
Advertise 6 5 5 4 3 2 2 1.5 1.0 0.5
ment
expenses
Sales (Y) 60 5 50 40 35 30 20 15 11 10
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Table 10.1 : A Company's Advertising Expenses and Sales Data ( in million S) [Years- 1995|1996|1997|1998 1999|2000|2001|2002|20013|2004 Advertise 6 5 5 4 3 2 2 1.5 1.0 0.5 ment expenses Sales (Y) 60 5 50 40 35 30 20 15 11 10

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Step 1

To determine the correlation coefficient, we use its formula shown below.

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Step 2

We now calculate all the required values in the formula, in a table shown below.

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Step 3

We now substitute the values obtained i...

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