I looked at a report that analyzes the oil production through the years I have r= .1133338605 r^2= .0128445639
A reporter concludes that a low correlation between year and production shows that oil production has remained steady over the 50-year period. Do you agree with this?
Am I correct to say no because the if it was steady r should be large and that would tell us that this would be a direct cause for the production.
I attached the scatterplot that I have constructed. This graph is not linear so I shouldn't use correlation to describe this graph?