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Consider the relationship between the number of bids an item on eBay received and the item's...

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 29 35 41 44 47
Number of Bids 10 11 12 13 14

Copy Data

Step 3 of 3:

Calculate the correlation coefficient, r. Round your answer to three decimal places.

Math   Statistics-And-Probability   
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Answer #1

The statistical software output for this problem is :

Step 3 :

Correlation coefficient = r = 0.985

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