an economist is trying to understand whether there is a strong link between ceo pay ratio and corporate…

an economist is trying to understand whether there is a strong link between ceo pay ratio and corporate revenue. the economist gathered data including the ceo pay ratio and corporate revenue for 30 companies for a particular year. the pay ratio data is reported by the companies and represents the ratio of ceo compensation to the median employee salary. the data are provided below. use rguroo to calculate the correlation coefficient r between the two variables. round your answer to two decimal places.\n\nceo pay ratio corporate revenue (million $)\n275 151007\n293 20612\n980 29498\n336 39286\n255 20338\n181 25991\n315 98334\n131 36196\n279 63827\n\nhelp copy to clipboard download csv\n\nprovide your answer below

an economist is trying to understand whether there is a strong link between ceo pay ratio and corporate revenue. the economist gathered data including the ceo pay ratio and corporate revenue for 30 companies for a particular year. the pay ratio data is reported by the companies and represents the ratio of ceo compensation to the median employee salary. the data are provided below. use rguroo to calculate the correlation coefficient r between the two variables. round your answer to two decimal places.\n\nceo pay ratio corporate revenue (million $)\n275 151007\n293 20612\n980 29498\n336 39286\n255 20338\n181 25991\n315 98334\n131 36196\n279 63827\n\nhelp copy to clipboard download csv\n\nprovide your answer below

Answer

Explanation:

Since the problem requires using Rguroo software to calculate the correlation coefficient between two variables (CEO pay ratio and corporate revenue), and the software - specific operation steps cannot be shown here. In general, in Rguroo, you would input the data of the two variables (CEO pay ratio and corporate revenue) into the software, then use the function for calculating the correlation coefficient (usually a built - in function for calculating Pearson's correlation coefficient). After running the calculation, round the result to two decimal places.

Answer:

Without actually using Rguroo to perform the calculation with the full data set of 30 companies, a numerical answer cannot be provided. You need to input the data into Rguroo and run the correlation calculation function to get the result.