Compute sample correlation coefficient for meaning of value

Reference no: EM13127548

A marketing analyst is studying the relationship between x = amount spent on television advertising and y = increase in sales. The data are reported in thousands of dollars. The following data represent a ransom sample from the study.

x (advertising) 15 28 19 47 10 92
y (sales increase) 340 260 152 413 130 855

Compute the sample correlation coefficient r. Give a brief explanation of the meaning of this value.

Reference no: EM13127548

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