Question
In: Statistics and Probability
An electronics retailer would like to investigate the relationship between the selling price of a digital...
An electronics retailer would like to investigate the relationship between the selling price of a digital camera and the demand for it. The table shown below gives the weekly demand for the camera in one particular market along with the corresponding price. These data have a sample correlation coefficient, rounded to three decimal places, of -0.930. Using a significance level of 0.10, test if the population correlation coefficient between the selling price and the demand for the camera is less than zero. What conclusions can you draw? (Please round to the correct decimal places!)
| demand | Price |
| 17 | 320 |
| 19 | 330 |
| 14 | 340 |
| 10 | 350 |
| 7 | 360 |
* The correct null and alternative hypotheses?
Ho: p > 0 (there is a line under >)
Ho: P > 0
*What is the test statistic?
t=
(round to two decimal places)
*What is the P-Value?
p=
(round to three decimal places)
*State the conclusion (choose the right answer)
do not reject/ reject the Ho. There is not / is enough evidence from the sample to conclude that P is less than/ greater than zero.
Solutions
orchestra answered 2 years agoRelated Solutions
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