Calculate correlation coefficient between overall cost

Reference no: EM13472698

The file Cost of living,provided in the textbooks web data base, contains the overall cost index, the monthly rent for a two-bedroom apartment, the cost of a cup of coffee with service, the cost of a fast-food hamburger meal, the cost of dry-cleaning a man's blazer, the cost of toothpaste, and the cost of movie tickets in 10 different cities.

a. Compute the correlation coefficient between the overall cost index and the monthly rent for a two-bedroom apartment, the cost of a cup of coffee with service, the cost of a fast-food hamburger meal, the cost of dry-cleaning a man's blazer, the cost of toothpaste, and the cost of movie tickets (There will be six separate correlation coefficients.)

b. What conclusions can you reach about the relationship of the overall cost index to each of these six variables?

Reference no: EM13472698

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