Eris is trying to figure out if there is a correlation between the cost of the online advertising and the monthly sale of online store. She has the survey results for 7 online stores for the last...

Pearson Moment Product Correlation
note: You may use Excel

Extracted text: Eris is trying to figure out if there is a correlation between the cost of the online advertising and the monthly sale of online store. She has the survey results for 7 online stores for the last year. She has now to determine if there is a significant correlation between the monthly e-commerce sales and the online advertising costs. The following table represents the survey results from the 7 online stores. Online Monthly E- Online Advertising Store commerce Sales Dollars (1000 s) (in 1000 s) 368 17 2 340 15 665 2.8 4 954 5 5 331 1.3 556 2.2 7 376 1.3 Show your step-by-step and complete solution. Use 3 decimal places for all computation and rounding-off of values.