The following data on sale price, size, and land-to-building ratio for 10 large

Question

The following data on sale price, size, and land-to-building ratio for 10 large industrial properties appeared in a paper.

17.2

(a) Calculate the value of the correlation coefficient between sale price and size. (Give the answer to three decimal places.)
r=

(b) Calculate the value of the correlation coefficient between sale price and land-to-building ratio. (Give the answer to three decimal places.)
r =

Property Sale Price
(millions
of dollars) Size
(thousands
of sq. ft.) Land-to-
Building
Ratio 1 10.7 2166 2.1 2 2.6 751 3.4 3 30.6 2423 3.7 4 1.9 223 4.8 5 20.0 3917 1.7 6 7.9 2865 2.2 7 10.1 1699 3.0 8 6.6 1046 4.9 9 5.7 1108 7.5 10 4.4 405

17.2

Explanation / Answer

For calculations in Part (a) and (b) Ms-Excel function CORREL is used.

(a)

r = 0.699

(b)

r = -0.330

(d) you have to provide part (c). Since part (d) is linked to part(c).

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