You are interested in knowing whether wealthier people are happier. You collected data from fifty people...

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You are interested in knowing whether wealthier people arehappier. You collected data from fifty people about their incomesand their overall happiness levels on a scale of 1 to 10. Uponanalyzing the results, you find that the correlation coefficienthas a value of âˆ’0.25. On the basis of this data, respond to thefollowing:
How would you interpret the correlation coefficient in terms ofstrength and direction?
How would the results be affected if you increased the numberof subjects in the study to one thousand? Why might that affect theoverall correlation?
How important is it to randomly select subjects? Explain indetail using an example of a sample that might not be trulyrepresentative of the population.

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4.3 Ratings (880 Votes)

Here it is given that r025 which means this is frail negative relationship Presently here n50 on the off chance that we increment the example size to 1000 it is nevertheless evident that See Answer

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