The correlation coefficient r between the age of a homeowner, x, and the number of years remaining on the homeowner's mortgage, y, is 0.485. What percent of the variation in the number of years remaining on a mortgage can be explained by differences in homeowners' ages?

The correlation coefficient r between the age of a homeowner, x, and the number of years remaining on the homeowner's mortgage, y, is 0.485. What percent of the variation in the number of years remaining on a mortgage can be explained by differences in homeowners' ages?

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.3: The Natural Exponential Function

Problem 8E

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Question

The correlation coefficient r between
the age of a homeowner, x, and the
number of years remaining on the
homeowner's mortgage, y, is 0.485.
What percent of the variation in the
number of years remaining on a
mortgage can be explained by
differences in homeowners' ages?
51.5%
48.5%
97%
23.5%

Definition Definition Statistical measure used to assess the strength and direction of relationships between two variables. Correlation coefficients range between -1 and 1. A coefficient value of 0 indicates that there is no relationship between the variables, whereas a -1 or 1 indicates that there is a perfect negative or positive correlation.

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