The 32 teams in the National Football League (NFL) are worth, on average, $1.17 billion, 5% more than last year. The following data show the annual revenue ($ millions) and the estimated team value ($ millions) for the 32 NFL teams (Forbes website, February 28, 2014)?

a. Develop a scatter diagram with Revenue on the horizontal axis and Value on the vertical axis. Does there appear that there is any relationship between the two variables?
b. What is the sample correlation coefficient? What can you say about the strength of the relationship between Revenue and Value?

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