Consider the relationship between the number of bids an item on eBay received and the item's selling price. The following is a sample of 55 items sold through an auction.
Price in Dollars | 23 | 26 | 29 | 35 | 50 |
---|---|---|---|---|---|
Number of Bids | 10 | 11 | 15 | 19 | 20 |
Step 3 of 3:
Calculate the correlation coefficient, r. Round your answer to three decimal places.
The statistical software output for this problem is :
The correlation coefficient, r = 0.883
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