The owner of Maumee Ford-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during the last year. Determine the correlation coefficient. Interpret the correlation coefficient. correlation type, please write one word and correlation strength, please write one word

-0.5436

Fairly strong negative correlation

Value of car decreases as age increases.

Explanation:

Age of car(x)

9

7

11

12

8

7

8

11

10

12

6

6

Selling price ($)

8.1

6.0

3.6

4.0

5.0

10.0

7.6

8.0

8.0

6.0

8.6

8.0

The correlation Coefficient calculated using the correlation coefficient calculator is - 0.5436. This depicts a fairly strong negative (negative value in Coefficient value) correlation exists between the age of a car and its value. This means that, the value of a car decreases as age increases.