Question

Following table, illustrate time x an employee spent in years for a typical company versus his/her hourly pay y in dollars. Find average amount of years employee spent in a company and average hourly pay. Also, find the coefficient of correlation between these quantities.

X (time in years ) |
3 | 4 | 5 | 10 | 15 | 20 |

Y (hourly salary) |
15 | 17 | 22 | 33 | 37 | 40 |

Answer #1

solution

X | Y | |||||

3 | 15 | -6.5 | -12.33 | 42.25 | 152.0289 | 80.145 |

4 | 17 | -5.5 | -10.33 | 30.25 | 106.7089 | 56.815 |

5 | 22 | -4.5 | -5.33 | 20.25 | 28.4089 | 23.985 |

10 | 33 | 0.5 | 5.67 | 0.25 | 32.1489 | 2.835 |

15 | 37 | 5.5 | 9.67 | 30.25 | 93.5089 | 53.185 |

20 | 40 | 10.5 | 12.67 | 110.25 | 160.5289 | 133.035 |

57 | 164 | 47.5 | 136.67 | 2256.25 | 18678.69 | 6491.825 |

averate amount of year = 57/6 = 9.5years

average hourly pay = 164/6 = 27.33 dollar

cofficient of correlation

x
5
3
4
10
15
y
25
20
21
35
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