Question
Jorge is an economist trying to understand whether there is a strong link between CEO compensation and corporate revenue. He gathereddata including the CEO compensation
Jorge is an economist trying to understand whether there is a strong link between CEO compensation and corporate revenue. He gathereddata including the CEO compensation for 30 randomly selected corporations for a particular year as well as the corporate revenue of those corporations for the same year. The data Jorge gathered are provided in the accompanying data table. Use Excel to calculate the correlation coefficient r between the two data sets. Round your answer to two decimal places.
CEO Compensation ($) Corporate Revenue (million $) 14215830 20101 14499807 28266 15268679 18524 14476928 28738 15083546 52884 15237297 117162 13881835 23704 13771160 33749 14269205 62478 13025536 44150 12793113 18347 12981100 31891 12682976 20980 13475291 17324 12433901 220088 12972799 29532 12580828 62901 12099198 21757 11965940 20469 11945915 20012 12393340 18356 11860228 22915 11109548 21577 11606923 21132 10978619 19258 11457940 21204 10774262 127285 10357350 18836 10621145 35626 10238177 155104
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started