Question: Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 80,000 80,000 90,000 100,000 100,000 110,000 120,000 120,000 130,000 140,000 Sales ($) 499,000 477,000 546,000 614,000 623,000 653,000 747,000 714,000 785,000 858,000 What is the correlation value for the relationship between advertising and sales? Please round your answer to the nearest hundredth. Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel
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