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 RegressionDataset1 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? (Use two decimals)

Regression (y)= a+bx

Consumptions = 2365.670024+0.846487973*disposable income

Cla . Regression Assignment - Dataset 1 (1) - Microsoft Excel Home Insert Page Layout Formulas Data Review View X ! AutoSum Calibri 11 Wrap Text General AL Fill - * Cut E) Copy Paste Format Painter Clipboard B I U Merge & Center $ - % .00 .00 0 Insert Delete Format 2 Clear - Conditional Format Cell Formatting as Table Styles Styles Sort & Find & Filter - Select Editing Font Alignment Number Cells A73 fx B D E F G H H 1 J K L M N 0 36299 A 49 04, 2011 50 Q1, 2012 51 Q2, 2012 52 Q3, 2012 53 04, 2012 54 Q1, 2013 55 Q2, 2013 56 Q3, 2013 57 Q4, 2013 58 01, 2014 59 Q2, 2014 , 60 Q3, 2014 61 04, 2014 62 Q1, 2015 63 Q2, 2015 64 Q3, 2015 65 04, 2015 66 01, 2016 67 Q2, 2016 68 Q3, 2016 69 04, 2016 70 32959 33104 33105 33128 33156 33263 33280 33370 33585 33688 33946 34190 34508 36832 37054 36963 37860 36226 36380 36522 36528 36872 37289 37587 37907 34659 38033 34850 38336 35015 38571 35147 35236 38785 38927 35550 39148 35743 39354 39254 35987 71 72 73 Consumption IIII Ready BI M 100% 1 Type here to search In WE E EC es AD 5) ENG 6:47 PM 2/3/2022