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 20 26 41 44 47 Number of Bids 10 11 15 16 19 Calculate the correlation coefficient, r. Round your answer to three decimal places.

Answer 1

Solution :

X	Y	XY	X^2	Y^2
20	10	200	400	100
26	11	286	676	121
41	15	615	1681	225
44	16	704	1936	256
47	19	893	2209	361

n	5
sum(XY)	2698.00
sum(X)	178.00
sum(Y)	71.00
sum(X^2)	6902.00
sum(Y^2)	1063.00
Numerator	852.00
Denominator	879.96
r	0.9682
r square	0.9375
Xbar(mean)	35.6000
Ybar(mean)	14.2000
SD(X)	10.6320
SD(Y)	3.3106
b	0.3015
a	3.4671

Correlation coefficient = r = 0.968