A negotiable certificate of deposit is a marketable receipt, Ask an Expert

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A negotiable certificate of deposit is a marketable receipt for funds deposited in a bank for a specified period of time at a specified rate of interest (Lee, Finnerty, and Norton, 1997). The table on page 515 lists the end-ot-quarter interest rate for three-month certificates of deposit from January 1982 through June 1999 with the concurrent end-of-quarter values of Standard & Poor's 500 Stock Composite Average (an indicator of stock market activity). Find the coefficient of determination and the correlation coefficient for the data

and interpret those results. Use the STATISTIX printout on p. 516 to arrive at your answer.

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