One of the stores is a proud sponsor of the college soccer team. They constantly try to raise money for the team and they want to determine if there is any type of relationship between the amount of contribution and the years that the alumnus has been out of school.
Years (X) 1 5 3 10 7 6 2
Contribution (Y) 400 100 150 20 75 80 200
a. Calculate the following statistically useful quantities.
∑X
∑Y
∑XY
∑X2
∑Y2
b. Calculate the correlation coefficients.
c. Is there a strong correlation? Explain the results.
d. Describe the line of regression (in Y=mX+b format)
e. Create a scatter plot using MS Excel and discuss the obtained results.