The purpose of this paper is to determine the relationship between the rate of unemployment and the rate of inflation in the US ...
The sort of inflation you probably heard of in World History class was not just high inflation but hyperinflation.
Unlike high inflation, which is painful but can be survived, hyperinflation destroys an economy.
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Data of the two variables (unemployment and inflation) are plotted as points on a graph. The graph obtained is called as scatter gram. To determine whether there is an evidence of the relation between the two variables, we calculate the correlation coefficient. "The correlation coefficient is a number which describes the extent to which the pattern of points is linear" (Jessop, 2010). By using the excel sheet and applying the function CORREL, we get CORREL = -