A researcher is analyzing the relationship between various variables in housing data for 32 cities: median list prices of single-family homes, condominiums or co-ops, all homes, median household income, unemployment rate, and population.
What is the correlation coefficient R for the model that predicts the list price of all homes using median household income as an explanatory variable?
What is the interpretation of this correlation coefficient in context?
R =
Pick:
moderate
strong
weak
A correlation exists between the list price of all homes and median household income.
City
Single-family
Condo or co-op
All homes
Household income
Unemployment
Population
Atlanta, GA
403,000
298,000
317,000
55,279
8.5
498,044
Minneapolis, MN
331,000
291,000
323,000
58,993
7.5
425,403
Cincinnati, OH
208,000
211,000
191,000
38,545
10.1
302,605
San Diego, CA
829,000
536,000
725,000
75,456
8.8
1,426,000
Reno, NV
450,000
247,000
441,000
54,916
6.9
250,998
Portland, OR
518,000
411,000
514,000
65,740
8.9
653,115
Sioux Falls, SD
257,000
175,000
248,000
59,017
3.4
181,883
Kansas City, MO
184,000
219,000
187,000
52,405
7.5
491,918
Chicago, IL
292,000
357,000
297,000
55,198
13.8
2,706,000
Savannah, GA
210,000
206,000
203,000
41,093
8.8
145,862
Bloomington, IN
261,000
188,000
248,000
34,435
4.7
84,981
Seattle, WA
890,000
573,000
837,000
85,562
6.6
744,955
Concord, NH
297,000
178,000
284,000
62,967
5.2
43,412
Augusta, ME
172,000
130,000
176,000
40,340
5.4
18,681
Des Moines, IA
162,000
186,000
165,000
52,251
6.4
216,853
Lincoln, NE
228,000
186,000
225,000
55,224
3.2
287,401
Nampa, ID
298,000
258,000
305,000
44,691
6.4
96,252
Draper, UT
613,000
418,000
599,000
115,618
4.8
48,319
Houston, TX
246,000
177,000
209,000
51,140
9.8
2,326,000
Memphis, TN
122,000
170,000
112,000
39,108
12.1
650,618
Waco, TX
170,000
127,000
164,000
37,735
7.0
138,183
Jackson, MS
68,438
121,000
48,579
37,563
9.3
164,422
Tampa, FL
330,000
245,000
289,000
50,909
6.9
392,890
Atlantic City, NJ
134,000
112,000
123,000
27,786
15.8
37,804
Bozeman, MT
535,000
343,000
499,000
51,896
3.9
48,532
Las Vegas, NV
333,000
183,000
318,000
54,694
14.1
644,644
San Francisco, CA
1,640,000
1,280,000
1,490,000
104,552
8.4
888,305
Philadelphia, PA
209,000
335,000
216,000
43,744
11.7
1,584,000
Charlotte, NC
311,000
234,000
280,000
60,886
8.1
872,498
Ann Arbor, MI
440,000
282,000
412,000
63,956
5.0
121,890
Charleston, SC
407,000
303,000
364,000
64,599
4.8
133,762
San Antonio, TX
215,000
165,000
213,000
46,317
8.0
1,487,000