Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and the profits (in millions of dollars). Determine if there is a significant positive linear correlation between advertising cost and profit . Use a significance level of 0.01 and round all values to 4 decimal places. Advertising Cost 5 6 7 8 9 10 11 Ho: p= 0 Ha: p > 0 Find the p-value Profit 26 Find the Linear Correlation Coefficient r = 0.755 x p-value = 0.021:x 24 29 31 21 24 34

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.FOM: Focus On Modeling: Fitting Lines To Data
Problem 11P
icon
Related questions
Question
Listed below are paired data consisting of amounts spent on
advertising (in millions of dollars) and the profits (in
millions of dollars). Determine if there is a significant
positive linear correlation between advertising cost and
profit. Use a significance level of 0.01 and round all values
to 4 decimal places.
Advertising Cost
5
6
7
8
9
10
11
Ho: p= 0
Ha: p > 0
Find the Linear Correlation Coefficient
r = 0.755 X
Find the p-value
p-value=
=
Profit
26
24
29
31
21
24
34
0.021: X
Transcribed Image Text:Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and the profits (in millions of dollars). Determine if there is a significant positive linear correlation between advertising cost and profit. Use a significance level of 0.01 and round all values to 4 decimal places. Advertising Cost 5 6 7 8 9 10 11 Ho: p= 0 Ha: p > 0 Find the Linear Correlation Coefficient r = 0.755 X Find the p-value p-value= = Profit 26 24 29 31 21 24 34 0.021: X
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 6 images

Blurred answer
Recommended textbooks for you
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt