a)what is the Pearson correlation value between income and consumption?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 5PPS
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Transcribed Image Text:Date Consumption
28634
288.37
29039
292.20
292 76
29282
29313
29685
29709
29795
29927
30014
30084
30351
30722
30887
31127
31261
31481
31725
31900
32178
32345
32386
32677
32777
32884
33134
33235
33273
333.35
33292
33150
33134
328:14
32344
32167
31957
32076
31999
32106
32308
32451
32717
328.26
32836
32913
32959
33104
33105
33128
33156
33263
33280
333 70
33585
33688
33946
34190
34508
34659
348.50
350:15
35147
352.36
355.50
35743
35987
Q1, 2000
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Income
31192
31438
31719
31742
31940
31836
32504
32020
32728
32821
32696
32773
32796
33197
33657
33713
33893
34152
34247
34589
34183
34380
34469
34666
35380
35354
35363
35734
35889
35878
35880
35819
35998
36677
35747
35892
35752
35932
35456
35328
35293
35686
35791
35967
36346
36228
36347
36299
36832
37054
36963
37860
36226
36380
36522
36528
36872
37289
37587
37907
38033
38336
38571
38785
38927
39148
39354
39254
Transcribed Image Text:The consumption function captures one of the key relationships in economics. It expresses consumption as a function of disposal income, where disposable income is income after
taxes. The attached file "Regression-Dataset1" shows data of average US annual consumption (in $) and disposable income (in $) for the years 2000 to 2016.
a)what is the Pearson correlation value between income and consumption?
Select one:
Ⓒa. 0.978
b. 0.109
c. None of the above
d. 0.791
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