d. Identify the pair of independent variables that are the most strongly related to each other....

d. Identify the pair of independent variables that are the most strongly related to each other.

e. Identify the pair of independent variables that are the least strongly related to each other.

f. For the answer to part d, test to see if the population correlation coefficient (rho) for those two variables is different from zero. Use alpha = 0.05.

g. For the answer to part e, test to see if the population correlation coefficient (rho) for those two variables is different from zero. Use alpha = 0.05.

Excel sheet in link

https://docs.google.com/spreadsheets/d/1TL7blpx16llIqr_iLw_4D-V0n__f9dnvS57OZumxhXQ/edit?usp=sharing

Solutions

Expert Solution

Using the given result in the following link, we conclude that

d. Column 6 (AIRCON) and Column 5 ( MOD BATH) have a largest correlation coefficient r =0.84. So, AIRCON and MOD BATH independent variables that are the most strongly related to each other.

e. Column 6 (AIRCON) and Column 2 ( LOTSIZE) have a lowest correlation coefficient r =0.0177. So, AIRCON and LOTSIZE independent variables that are the least strongly related to each other.

Null and alternative hypothesis is

f. Test the significance of correlation coefficient is

p-value is

P-value is less than 0.05, so reject the null hypothesis and conclude that there is a significant relationship because the correlation coefficient is significantly different from 0.

Test the significance of correlation coefficient is

p-value is

P-value is greater than 0.05, so do not reject the null hypothesis and conclude that there is no significant relationship because the correlation coefficient is significantly equal to 0.

milcah answered 9 months ago

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