Question

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

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

Year

openness

Gini index

2003

76.15%

25.3

2004

79.29%

26.1

2005

84.57%

26.8

2006

88.79%

26.4

2007

89.54%

27.1

2008

93.36%

28.1

2009

83.14%

27.3

2010

86.90%

27.7

2011

88.66%

27.6

2012

87.71%

27.6

2013

83.09%

28.8

2014

86.27%

28.4

2015

86.24%

29.2
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Answer #1

Correlation coefficient is found using Excel CORREL function.

Correlation Coefficient = 0.4998

Screenshot of formula:

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