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.
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orchestra answered 1 year agoRelated Solutions
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