The following quote is from a paper on the weight of the botile as a possible ex

Question

The following quote is from a paper on the weight of the botile as a possible extrinsic cue with which to estmate the price (and quality) of the wine The weight of the wine bottles was positively correlated (- 0.14;p 0.001) with the price off the wines (a) Does the value of the correlation coefficient indicate that the relationship is weak, moderate, or strong moderate (b) what is the vaiue ot P wrte a sentence that gves an interpretation of this value %ofthe variation in pren ofthe wine can be cewed by the inear reanonship between pee The value of weight of the wine bottles Approximateh 90

Explanation / Answer

PART A.

properties of correlation

1. If r = 1 Corrlation is called Perfect Positive Corrlelation

2. If r = -1 Correlation is called Perfect Negative Correlation

3. If r = 0 Correlation is called Zero Correlation

& with above we conclude that correlation ( r ) is = 0.14< 0, can say that relationshipp is weak

PART B.

value of r^2 = 0.14^2 = 0.0196, approximately 2% of the variation in price of the wine can be

explained by the linear relationship b/w price and rate of that wine bottles

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