Business statistics

Question

You generate a scatter plot using Excel. You then have Excel plot the trend line and report the equation and the r2r2 value. The regression equation is reported as

y=46.76x+72.82y=46.76x+72.82

and the r2=0.4489r2=0.4489.

What is the correlation coefficient for this data set? 

r = ____

Answer 1

In this problem, you have a single predictor regression. As such the correlation is given by taking the square root of the multiple correlation coefficient. As such, for R squared = .4489, r = 0.670.