Ok I was required too work out the Correlation Coefficent and I have done that and corrected it too 3 d.p as the question asks but it also asks for me too comment on the figure and I have put that following comment;
"The Correlation Coefficient is 0.887 corrected to 3dp and looking at this figure this shows that there is a strong positive correlation"
Do you think that is a suitable comment?
Ok thanks for that reading it I think this makes a bit more sense and talks about it a bit more;
As both the x & y values have strong positive linear correlation this has an affect on the correlation cofficient resulting in the correlation cofficient also having a strong positive correlation because 0.88+ usually represents a high positive correlation.
Hope that makes sense :P it does too me but that doesn't mean anything....
the corr coeff is between -1 and 1
think of both as 100 percent related, like y=-x and y=x.
Zero is similar to independence (they are the same in the normal setting)
the closer to -1 or 1 the more one variable explains the other.
Near 0 means that neither can 'predict' the other.
Now, near zero, near -1, 1 is dependent on your alpha in a testing setting.