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

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Finance

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

YearHome sales (thousands)Interest rate (%)
15208
26735
36313
45818
565810

The answer is -.263

Please show how to get there

Answer & Explanation Solved by verified expert
4.0 Ratings (636 Votes)
Let x be the data set of home sales y be the data setof interest ratesFind the mean of x let it be x and the mean of    See Answer
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Transcribed Image Text

Using the following 5 year data series, calculate thecorrelation between interest rates and US new home sales.YearHome sales (thousands)Interest rate (%)15208267353631345818565810The answer is -.263Please show how to get there

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