Find out if x and y are significantly related. Use a significance level of α =...

Find out if x and y are significantly related. Use a significance level of α = 0.01. Also calculate the sample correlation coefficient between the price and the number of flash drives sold. Show all work -

Price (x)	Units sold (y)
34	4
36	4
32	6
35	5
31	9
38	2
39	1

Expert Solution

correlation coefficient r=

S_xy/(√S_xx*S_yy) =-44/sqrT(52*41.71) =

-0.945

degree of freedom =n-2=7-2 =5

test for significance:

null hypothesis: Ho: ρ	=	0
Alternate Hypothesis: Ha: ρ	≠	0

0.01 level,two tail test and n-2= 5 df, critical t=		4.032
Decision rule: reject Ho if absolute value of test statistic \|t\|>4.032

test stat t=

r*(√(n-2)/(1-r²))=-0.945*sqrt((7-2)/(1-(-0.945)^2)) =

-6.444

since test statistic falls in rejection region we reject null hypothesis
we have sufficient evidence to conclude that there is a significant linear relationship between variables

orchestra answered 3 years ago

A) Assume that the significance level is α=0.05. Use the given information to find the P-value...

A) Assume that the significance level is α=0.05. Use the given information to find the P-value and the critical value(s). The test statistic of z = −1.09 is obtained when testing the claim that p<0.2. B) Identify the type I error and the type II error that corresponds to the given hypothesis. The proportion of settled medical malpractice suits is 0.29. C) A survey of 1,562 randomly selected adults showed that 579 of them have heard of a new electronic...

Conduct a test and find if there is a difference at the α=0.01 level of significance....

Conduct a test and find if there is a difference at the α=0.01 level of significance. Inrandomized, double-blind clinical trials of a new vaccine, children were randomly divided into two groups. Subjects in group 1 received the new vaccine while subjects in group 2 received a control vaccine. After the first dose, 67 of 607 subjects in the experimental group (group 1) experienced fever as a side effect. After the first dose, 109 of 728 subjects in the control group...

When we carry out a statistical test with significance level α = 5%, the probability of...

When we carry out a statistical test with significance level α = 5%, the probability of rejecting the null hypothesis when it is true is 5%. Suppose that we independently select 5 random samples of size 100, and for each sample carry out the same statistical test with significance level 5%. We know that the null hypothesis is true. What is the probability that we reject the null hypothesis at most once out of the 5 tests?

In order to find out how goods X and Y are related, which type of elasticity...

In order to find out how goods X and Y are related, which type of elasticity should we use? The equilibrium price in a market is $15. A $10 price ceiling is imposed in this market. Will consumer surplus increase or decrease? Will producer surplus increase or decrease? Will total surplus increase or decrease? Will deadweight loss increase or decrease? If firms develop market power and raise prices of their products, we expect total surplus to increase/decrease. (Circle correct answer.)

Assume that you plan to use a significance level of α = 0.05 to test 5)...

Assume that you plan to use a significance level of α = 0.05 to test 5) the claim that p1 = p2. Use the given sample sizes and numbers of successes to find the P-value for the hypothesis test, and make a conclusion addressed to the claim. n1=100 n2=100 x1 = 38 x2 = 40

Use a α = .01 significance level to test the claim that 90% students have a...

Use a α = .01 significance level to test the claim that 90% students have a Facebook account. Survey results: n=500, x= 430. H0= H1= Left tail, right tail or two tail? Explain, please! Test statistic: P-value: Conclusion:

Find the critical value(s) for the type of t-test with level of significance α and sample...

Find the critical value(s) for the type of t-test with level of significance α and sample size n. Ha: μ < 20, α = 0.005, n = 25.

Derive the formula for a (1-α) level confidence interval for the Mean response E(Y|X=x*) using the...

Derive the formula for a (1-α) level confidence interval for the Mean response E(Y|X=x*) using the simple linear regression model, where x* is a specified value for X.

Conduct a test at the α equals=0.10 level of significance by determining (a) the null and...

Conduct a test at the α equals=0.10 level of significance by determining (a) the null and alternative hypotheses, (b) the test statistic, and (c) the P-value. Assume the samples were obtained independently from a large population using simple random sampling.Test whether p1 > p2. The sample data are x1=118, n1=249, x2=142, and n2=315.

Conduct the following test at the α=0.01 level of significance by determining (a) the null and...

Conduct the following test at the α=0.01 level of significance by determining (a) the null and alternative hypotheses, (b) the test statistic, and (c) the P-value. Assume that the samples were obtained independently using simple random sampling. Test whether p1≠p2. Sample data are x1=28, n1=254, x2=36,and n2=302. (a) Determine the null and alternative hypotheses. Choose the correct answer below. A. H0: p1=p2 versus H1: p1>p2 B. H0: p1=p2 versus H1: p1<p2 C. H0: p1=p2 versus H1: p1≠p2 D. H0: p1=0...

Question