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Price of eggs and milk: The following table presents the average price in dollars for a dozen eggs and a gallon of milk for ePart 2 of 4 (b) Compute the correlation coefficient between the price of eggs and the price of milk. Round the answer to at l

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Answer #1

The statistical software output for this problem is:

Simple linear regression results: Dependent Variable: Gallon of Milk Independent Variable: Dozen Eggs Gallon of Milk = 3.2906

Hence,

b) Correlation coefficient = 0.201

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