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Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and...

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Question

Statistics

Listed below are paired data consisting of amounts spent onadvertising (in millions of dollars) and the profits (in millionsof dollars). Determine if there is a significant linear correlationbetween advertising cost and profit . Use a significance level of0.01 and round all values to 4 decimal places.

Advertising CostProfit

323

422

523

626

723

825

919

1025

1133

Ho: ρ = 0
Ha: ρ ≠ 0

Find the Linear Correlation Coefficient
r =

Find the p-value
p-value =   

The p-value is

Less than (or equal to) αα

Greater than αα

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 thelinear correlation between advertising expense and profit.

There is a significant positive linear correlation betweenadvertising expense and profit.

There is a significant linear correlation between advertisingexpense and profit.

There is a significant negative linear correlation betweenadvertising expense and profit.

Answer & Explanation Solved by verified expert
4.3 Ratings (592 Votes)
GivenHo 0Ha 0Significance level 001pvalue is    See Answer
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