Find the value of the linear correlation coefficient r. The paired data below consist of the costs of advertising (in thousands of dollars) and the number of products sold (in thousands). Cost 9 2 3 4 2 5 9 10 Number 85 52 55 68 67 86 83 73

The value of the linear correlation coefficient, r, as calculated using Microsoft excel is: 0.708.

(See image attached below)

Therefore, the value of the linear correlation coefficient, r, as calculated using Microsoft excel is: 0.708.

(See image attached below)

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0.708

Step-by-step explanation:

The calculation of linear correlation coefficient r is shown below:-

Cost        Number

9                 85

2                 52

3                  55

4                  68

2                  67

5                  86

9                  83

10                 73

linear correlation coefficient r = 0.70772136

or

= 0.708

For better understanding find the spreadsheet at attached and follow some steps to reach the answer

Step 1 Put the values of cost and number

Step 2

Step 2 Go to data, select data analysis now click on Correlation and click ok

Step 3 Select the range from A2 to B9

Step 4 Then click OK to get the result

the monthly balance will be $75,000