|
Data from the U. S. Federal Reserve Board (Household Debt Service Burden, 2002) on consumer debt (as a percentage of personal income) and mortgage debt (also as a percentage of personal income) for selected years are shown in the following table:
a. What is the value of the correlation coefficient for this data set?
b. Is it reasonable to conclude that there is no strong relationship between the variables (linear or otherwise)? Use a graphical display to support your answer. |
| New search. (Also 1294 free access solutions) |