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A study was conducted to determine if there was a relationship between the prices a non-member of a book club paid for various publications and the prices that a member paid for the same publications. The data gathered is shown below. Compute the value of the correlation coefficient.
Coefficient
A numerical or constant quantity placed before and multiplying the variable in an algebraic expression, often representing a measure of some property.
Midpoint Formula
A method used in geometry and economics to find the midpoint or the average of two points on a line segment.
Consumer Expenditure
The total amount spent by consumers on goods and services in a given period.
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