Question: Using the following 5 year data series, calculate the correlation between interest rates and US new home sales. Year Home sales (thousands) Interest rate (%)

Using the following 5 year data series, calculate the correlation between interest rates and US new home sales.

Year Home sales (thousands) Interest rate (%)
1 520 8
2 673 5
3 631 3
4 581 8
5 658 10

The answer is -.263

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