A small retail business has determined that the correlation coefficient between monthly expenses and profits...

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A small retail business has determined that the correlation coefficient between monthly expenses and profits for the past year, as measured at the end of each month, is r= 0.56. Assuming that both expenses and profits are approximately normally distributed, test at the 5% (0.05) level of significance the null hypothesisthat there is no correlation between them.

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A small retail business has determined that the correlation coefficient between monthly expenses and profits for the past year, as measured at the end of each month, is r= 0.56. Assuming that both expenses and profits are approximately normally distributed, test at the 5% (0.05) level of significance the null hypothesisthat there is no correlation between them.

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