Using the data on this spreadsheet answer the following questions: https://docs.google.com/spreadsheets/d/12T8oANNLvlkSYLAWSbhXVGd5ErEWzZei/edit?usp=sharing&ouid=105878208044637650378&rtpof=true&sd=true

The Phillips Curve is a hypothetical relationship between unemployment and inflation. In the late 1950s and early 1960s, several economists noticed that economies that had high inflation tended to have low unemployment, and visa-versa. In this question, you will explore the data to see if this is really the case.

a. Use the excel data to make a scatter plot that plots the unemployment rate on the X-axis and the inflation rate on the Y-axis. Include the chart here. Does it look like unemployment and inflation are positively, negatively, or not correlated?

b. Calculate the linear correlation coefficient r by first calculating SSxx, SSyy, and SSxy.

c. Would you say that unemployment and inflation are strongly or weakly correlated? Are they positively or negatively correlated? Does this match with the findings of the economists in the 50s and 60s?

d. Explain your reasoning, supporting your answer with your calculation form part (b).