Michael had $550 in his savings account. He took out $30.75 every month for one year. What is the net change in Michael's accoun
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Answer:
a) Figure attached
b)
For our case we have this:
n=10
So then the correlation coefficient would be r =0.989
Step-by-step explanation:
Previous concepts
The correlation coefficient is a "statistical measure that calculates the strength of the relationship between the relative movements of two variables". It's denoted by r and its always between -1 and 1.
Solution to the problem
Part a
Year (x): 1940, 1945 1950, 1955, 1960, 1965, 1970, 1975, 1980, 1985
Vehicles (Y): 32.4, 31.0, 49.2, 62.7, 73.9, 90.4, 108.4, 132.9, 155.8, 171.7
After apply natural log for the two variables and create the scatterplot in excel we got the following result on the figure attached.
Part b
And in order to calculate the correlation coefficient we can use this formula:
For our case we have this:
n=10
So then the correlation coefficient would be r =0.989
