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What is the Correlation Coefficient between Openness (as a percentage) and the GINI Index for Italy?...

What is the Correlation Coefficient between Openness (as a percentage) and the GINI Index for Italy? DATA have been attached.

Year Openness GINI Index
2003 46.25% 34.9
2004 47.55% 34.3
2005 49.40% 33.8
2006 53.28% 33.7
2007 55.21% 32.9
2008 54.71% 33.8
2009 45.61% 33.8
2010 52.25% 34.7
2011 55.59% 35.1
2012 56.18% 35.2
2013 55.48% 34.9
2014 55.75% 34.7
2015 56.92% 35.4
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Answer #1

Correlation coefficient is found using Excel CORREL function.

Correlation Coefficient = 49.98%

Screenshot of formula:

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