Question

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 5 items sold through an auction.

Price in Dollars	23	38	41	47	50
Number of Bids	10	12	16	17	19

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Step 3 of 3 :  

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

Answer 1

X: Price in Dollars

Y: Number of Bids

We have to find the correlation coefficient (r).

n = 5

	x	y	xy	x^2	y^2
	23	10	230	529	100
	38	12	456	1444	144
	41	16	656	1681	256
	47	17	799	2209	289
	50	19	950	2500	361
Total	199	74	3091	8363	1150

The correlation coefficient = r = 0.936