Question
In: Statistics and Probability
The Cadet is a popular model of sport utility vehicle, known for its relatively high resale...
The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. For a random sample of
35
Cadets, each bought "new" two years ago and each sold "used" within the past month, the sample correlation coefficient
r
relating mileage on the odometer and used selling price was
−0.24
. Based on this information, test for a significant linear relationship between the two variables mileage and used selling price by doing a hypothesis test regarding the population correlation coefficient
ρ
. (Assume that the two variables have a bivariate normal distribution.) Use the
0.10
level of significance, and perform a two-tailed test. Then fill in the table below.
(If necessary, consult a list of formulas.)
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Solutions
orchestra answered 2 years agoRelated Solutions
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