Determine the correlation between claims and surplus


Solve the below problem:

Q: The following data are the claims (in $ millions) for BlueCross BlueShield benefits for nine states, along with the surplus (in $ millions) that the company had in assets in those states.

State                                            Claims                                            Surplus
Alabama                                  $1,425                                      $277
Colorado                                  273                                          100
Florida                                     915                                          120
Illinois                                     1,687                                        259
Maine                                      234                                           40
Montana                                  142                                           25
North Dakota                            259                                           57
Oklahoma                                 258                                           31
Texas                                      894                                           141

Use the data to compute a correlation coefficient, r, to determine the correlation between claims and surplus.

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Basic Statistics: Determine the correlation between claims and surplus
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