The correlation coefficient $r$ for the given bivariate data set is approximately $0.058$, accurate to three decimal places.

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Here are 5 related questions for further exploration:

1. What does a correlation coefficient close to zero indicate about the relationship between variables?
2. How do you interpret positive versus negative correlation coefficients?
3. What is the difference between correlation and causation?
4. How can the strength of a correlation impact predictions in a dataset?
5. What are the limitations of using correlation as a measure of association?

Tip: A correlation coefficient near zero suggests a weak or no linear relationship between the two variables.