Consider the Following Annual Sales Data for 2001-2008 -Calculate the Correlation Coefficient

question 94

Short Answer

Consider the following annual sales data for 2001-2008:
$$\begin{array} { | c | c | } \hline \text { Year } & \text { Sales } \\\hline 2001 & 2 \\\hline 2002 & 4 \\\hline 2003 & 10 \\\hline 2004 & 8 \\\hline 2005 & 14 \\\hline 2006 & 18 \\\hline 2007 & 17 \\\hline 2008 & 20 \\\hline\end{array}$$
-Calculate the correlation coefficient.

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Definitions:

Investigate

To carry out a systematic or formal inquiry to discover and examine the facts of an issue or case, with the aim of establishing the truth.

Noncomparable

A noncomparable item or situation is one that cannot be fairly compared to another due to distinctive differences.

Data Sets

Collections of related sets of information that are composed of separate elements but can be manipulated as a unit by a computer.

Objective Quality

Objective quality relates to measurable or quantifiable aspects of something, based on impartial criteria or standards rather than personal opinions.