Question

The paired data below consist of monthly costs of advertising (in thousands of dollars) and monthly revenue (in thousands of dollars) for eight consecutive months. Use linear regression to find a linear function that predicts the number of products sold as a function of the cost of advertising. Cost (X) | 9 2 3 4 2 5 9 10 Revenue (Y) | 85 52 55 68 67 86 83 73 Compute the correlation coefficient for the data. Round to 2 decimal places. r = 0.71

          The paired data below consist of monthly costs of advertising (in thousands of dollars) and monthly revenue (in thousands of dollars) for eight consecutive months. Use linear regression to find a linear function that predicts the number of products sold as a function of the cost of advertising.

Cost (X) | 9 2 3 4 2 5 9 10
Revenue (Y) | 85 52 55 68 67 86 83 73

Compute the correlation coefficient for the data. Round to 2 decimal places.
r = 0.71