Question
An economist is studying the link between the total value of a country's exports and that country's gross domestic product, or GDP. The economist recorded
An economist is studying the link between the total value of a country's exports and that country's gross domestic product, or GDP. The economist recorded the GDP and Export value (in millions of $'s)for 30 nations for the same fiscal year. This sample data is provided below.
GDP | Exports 225274 214010 297106 205300 1470543 189700 511685 188300 930808 184300 261974 180500 542857 152000 331360 151100 703318 148400 269115 142900 154027 128970 101848 125927 271392 104968 97980 88546 181876 93763 266641 82414 139535 77731 76381 74824 212411 62118 169385 61143 594857 65205 144020 57241 353487 55861 99688 55691 155857 53762 137955 55400 164110 46322 422231 45940 149899 43284 257349 37922
Use Excel to calculate the correlation coefficient between the two data sets. Round your answer to two decimal places.
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