Abe is planning on spending at most 27% of his monthly income on housing. What is the most he can spend if his he makes $71,614
1 answer:
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The correct option will be: C) 0.84
<u><em>Explanation</em></u>
Formula for Correlation coefficient :
First, for each point(x, y), we need to calculate x², y² and xy .
Then, we will find sum all x, y, x², y² and xy, which gives us Σx, Σy, Σx², ∑y² and Σxy
<em>(Please refer to the attached image for the table )</em>
Here we got, ∑x = 44 , ∑y = 183 , ∑x² = 362 , ∑y² = 6575 and ∑xy = 1480
'n' is the total number of data set, which is 7 here.
So, plugging those values into the above formula..........
So, the value of the correlation coefficient is 0.84
