Question

Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to...

Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.) r = Consumer Debt Household Debt Consumer Debt Household Debt 7.89 6.22 6.23 5.72 7.90 6.14 6.08 5.95 7.64 5.95 6.33 6.09 7.62 5.83 6.98 6.28 7.49 5.83 7.38 6.07 7.48 5.86 7.52 5.80 7.37 5.82 7.84 5.81 6.57 5.80

Homework Answers

Answer #1

X Values
∑ = 108.32
Mean = 7.221
∑(X - Mx)2 = SSx = 5.463

Y Values
∑ = 89.17
Mean = 5.945
∑(Y - My)2 = SSy = 0.423

X and Y Combined
N = 15
∑(X - Mx)(Y - My) = 0.196

R Calculation
r = ∑((X - My)(Y - Mx)) / √((SSx)(SSy))

r = 0.196 / √((5.463)(0.423)) = 0.1288

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT