Question

In: Statistics and Probability

Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and...

Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and the profits (in millions of dollars). Determine if there is a significant positive linear correlation between advertising cost and profit . Use a significance level of 0.01 and round all values to 4 decimal places.

Advertising Cost Profit
3 23
4 29
5 28
6 21
7 29
8 32
9 21

Ho: ρ = 0
Ha: ρ > 0

Find the Linear Correlation Coefficient
r = ____

Find the p-value
p-value = ____

The p-value is?

  • Greater than α
  • Less than (or equal to) α

The p-value leads to a decision to?

  • Do Not Reject Ho
  • Reject Ho
  • Accept Ho

The conclusion is?

  • There is insufficient evidence to make a conclusion about the linear correlation between advertising expense and profit.
  • There is a significant positive linear correlation between advertising expense and profit.
  • There is a significant linear correlation between advertising expense and profit.
  • There is a significant negative linear correlation between advertising expense and profit.

Solutions

Expert Solution


Let me know in the comment section if anything is not clear. I will reply ASAP!

If you like the answer, please give a thumbs-up. This will be quite encouraging for me.Thank-you!

orchestra answered 1 year ago
Next > < Previous

Related Solutions

Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and...
Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and the profits (in millions of dollars). Determine if there is a significant negative linear correlation between advertising cost and profit . Use a significance level of 0.01 and round all values to 4 decimal places. Advertising Cost Profit 3 18 4 22 5 16 6 29 7 24 8 31 9 22 10 29 11 25 Ho: ρ = 0 Ha: ρ < 0...
Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and...
Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and the profits (in millions of dollars). Determine if there is a significant linear correlation between advertising cost and profit . Use a significance level of 0.01 and round all values to 4 decimal places. Advertising CostProfit 323 422 523 626 723 825 919 1025 1133 Ho: ρ = 0 Ha: ρ ≠ 0 Find the Linear Correlation Coefficient r = Find the p-value p-value...
Listed below are paired data consisting of movie budget amounts and the amounts that the movies...
Listed below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression​ equation, letting the budget be the predictor​ (x) variable. Find the best predicted amount that a movie will gross if its budget is ​$125 million. Use a significance level of alpha equals 0.05α=0.05. Budget left parenthesis $ right parenthesisBudget ($)in Millionsin Millions 3939 2121 114114 6969 7575 5454 115115 6868 99 6565 126126 1616 1111 148148 88 Gross left parenthesis...
Listed Below are paired data consisting of movie budget amounts and the amounts that the movies...
Listed Below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression​ equation, letting the budget be the predictor​ (x) variable. Find the best predicted amount that a movie will gross if its budget is ​$105 million. Use a significance level of alpha equals 0.05. Budget ($)in Millions 38 21 115 74 79 51 123 63 7 65 123 19 9 151 7 Gross ($) in Millions 114 14 107 62 124...
Listed below are paired data consisting of movie budget amounts and the amounts that the movies...
Listed below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression​ equation, letting the budget be the predictor​ (x) variable. Find the best predicted amount that a movie will gross if its budget is ​$140 million. Use a significance level of α=0.05. Budget left parenthesis $ right parenthesisBudget ($)in Millions 40 21 118 74 71 56 120 67 2 64 129 17 13 152 7 Gross left parenthesis $ right parenthesisGross...
Listed below are paired data consisting of movie budget amounts and the amounts that the movies...
Listed below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression​equation, letting the budget be the predictor​ (x) variable. Find the best predicted amount that a movie will gross if its budget is​$130 million. Budget left parenthesis $ right parenthesis in Millions 43 18 120 72 79 53 124 63 5 56 125 17 6 153 10 Gross left parenthesis $ right parenthesis in Millions 125 6 112 68 112 122...
Reported below are the amounts spent on advertising ($ millions) by a large firm from 2007...
Reported below are the amounts spent on advertising ($ millions) by a large firm from 2007 to 2017. Year Amount 2007 94.2 2008 96.9 2009 108.2 2010 109.3 2011 118.3 2012 129.5 2013 141.0 2014 141.5 2015 152.1 2016 163.1 2017 165.7 Click here for the Excel Data File Determine the logarithmic trend equation. (Do not round your intermediate calculations. Round your answers to 4 decimal places.) Estimate the advertising expenses for 2022. (Do not round intermediate calculations. Round your...
1- Listed below are the amounts of net worth​ (in millions of​ dollars) of the ten...
1- Listed below are the amounts of net worth​ (in millions of​ dollars) of the ten wealthiest celebrities in a country. Construct a 9999​% confidence interval. What does the result tell us about the population of all​ celebrities? Do the data appear to be from a normally distributed population as​ required? 251251 199199 187187 162162 162162 157157 146146 146146 141141 141141 What is the confidence interval estimate of the population mean muμ​? ​$nothing millionless than<muμless than<​$nothing million ​(Round to one...
Listed below are the amounts of net worth (in millions of dollars) of the ten wealthiest...
Listed below are the amounts of net worth (in millions of dollars) of the ten wealthiest celebrities in a country. Construct a 90% confidence interval. What does the result tell us about the population of all celebrities? Do the data appear to be from a normally distributed population as required? 241, 195, 188,171,164,154,151,151,151,146 What is the confidence interval estimate of the population mean u? $ __ million< u <$__ milion round to one decimal place as needed
Listed below are the amounts of net worth​ (in millions of​ dollars) of the ten wealthiest...
Listed below are the amounts of net worth​ (in millions of​ dollars) of the ten wealthiest celebrities in a country. Construct a 90​% confidence interval. What does the result tell us about the population of all​ celebrities? Do the data appear to be from a normally distributed population as​ required? 267 198 192 169 163 153 147 147 147 147 What is the confidence interval estimate of the population mean u​?
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT