Correlation between price and quantity sold

This data represents 100 online auctions selling multiple collectible items in each listing. Is there a correlation between price and quantity sold? Let's find out!

Recall that correlation, which you can calculate using CORREL(), ranges between -1 and 1.

• 0 correlation means there is no relationship between variables.
• Positive correlation indicate that as one variable increases, the other also increases.
• Negative correlation values signify that as one variable increases, the other decreases.

Here you will create a scatter plot (also known as a "scatter chart" or "XY graph") to visually represent the correlation. Do you think the price of an item has a positive or negative correlation to the total quantity sold? What do you expect the scatterplot pattern to look like? Let's find out in this exercise!