Understanding Basic Statistics 6th Edition by Charles Henry Brase,Corrinne Pellillo Brase

Exercise 13

Interpretation Trevor conducted a study and found that the correlation between the price of a gallon of gasoline anti gasoline consumption has a linear correlation coefficient of 0.7. What does this result say about the relationship between price of gasoline and consumption The study included gasoline prices ranging from $2.70 to $5.30 per gallon. Is it reliable to apply the results of this study to prices of gasoline higher than $5.30 per gallon Explain.