Question
Pennsylvania Refining Company is studying the relationship between the pump price of gasoline and the number...
Pennsylvania Refining Company is studying the relationship between the pump price of gasoline and the number of gallons sold. For a sample of 18 stations last Tuesday, the correlation was 0.70. Can the company conclude that the correlation is positive? State the decision rule for 0.01 significance level. (Round your answer to 3 decimal places.) Compute the value of the test statistic. (Round your answer to 3 decimal places.) Can we conclude that the correlation in the population is greater than zero? Use the 0.01 significance level.
Homework Answers
Answer #1
from above:
decision rule :reject Ho if test statistic t> 2.552
value of the test statistic =4.159
WE can conclude that correlation in the population is greater than zero at 0.01 level of significance,
Not the answer you're looking for?
Similar Questions
Pennsylvania Refining Company is studying the relationship between the pump price of gasoline and the number...
Pennsylvania Refining Company is studying the relationship
between the pump price of gasoline and the number of gallons sold.
For a sample of 21 stations last Tuesday, the correlation was 0.25.
State the decision rule for 0.10 significance level. (Round your
answer to 3 decimal places.) Compute the value of the test
statistic. (Round your answer to 3 decimal places.) Can we conclude
that the correlation in the population is greater than zero? Use
the 0.10 significance level.
Pennsylvania Refining Company is studying the relationship between the pump price of gasoline and the number...
Pennsylvania Refining Company is studying the relationship
between the pump price of gasoline and the number of gallons sold.
For a sample of 20 stations last Tuesday, the correlation was
0.65.
State the decision rule for 0.050 significance level.
(Round your answer to 3 decimal places.)
Compute the value of the test statistic. (Round your answer to 3
decimal places.)
Can we conclude that the correlation in the population is
greater than zero? Use the 0.050 significance level.
Pennsylvania Refining Company is studying the relationship between the pump price of gasoline and the number...
Pennsylvania Refining Company is studying the relationship
between the pump price of gasoline and the number of gallons sold.
For a sample of 16 stations last Tuesday, the correlation was
0.57.
State the decision rule for 0.050 significance level.
(Round your answer to 3 decimal places.)
Compute the value of the test statistic. (Round your answer to 3
decimal places.)
Can we conclude that the correlation in the population is
greater than zero? Use the 0.050 significance level.
The Airline Passenger Association studied the relationship between the number of passengers on a particular flight...
The Airline Passenger Association studied the relationship
between the number of passengers on a particular flight and the
cost of the flight. It seems logical that more passengers on the
flight will result in more weight and more luggage, which in turn
will result in higher fuel costs. For a sample of 10 flights, the
correlation between the number of passengers and total fuel cost
was 0.611.
State the decision rule for 0.01 significance level:
H0: ρ ≤ 0; H1:...
The Airline Passenger Association studied the relationship between the number of passengers on a particular flight...
The Airline Passenger Association studied the relationship
between the number of passengers on a particular flight and the
cost of the flight. It seems logical that more passengers on the
flight will result in more weight and more luggage, which in turn
will result in higher fuel costs. For a sample of 22 flights, the
correlation between the number of passengers and total fuel cost
was 0.640.
State the decision rule for 0.05 significance level: H0: ρ ≤ 0;
H1:...
The Airline Passenger Association studied the relationship between the number of passengers on a particular flight...
The Airline Passenger Association studied the relationship
between the number of passengers on a particular flight and the
cost of the flight. It seems logical that more passengers on the
flight will result in more weight and more luggage, which in turn
will result in higher fuel costs. For a sample of 25 flights, the
correlation between the number of passengers and total fuel cost
was 0.672. State the decision rule for 0.05 significance level: H0:
ρ ≤ 0; H1:...
The Airline Passenger Association studied the relationship between the number of passengers on a particular flight...
The Airline Passenger Association studied the relationship
between the number of passengers on a particular flight and the
cost of the flight. It seems logical that more passengers on the
flight will result in more weight and more luggage, which in turn
will result in higher fuel costs. For a sample of 8 flights, the
correlation between the number of passengers and total fuel cost
was 0.685.
State the decision rule for 0.01 significance level:
H0: ρ ≤ 0; H1:...
A study of 23 worldwide financial institutions showed the correlation between their assets and pretax profit...
A study of 23 worldwide financial institutions showed the
correlation between their assets and pretax profit to be 0.84.
State the decision rule for 0.025 significance level:
H0: ρ ≤ 0; H1:
ρ > 0. (Round your answer to 3 decimal
places.)
Compute the value of the test statistic. (Round
your answer to 2 decimal places.)
Can we conclude that the correlation in the
population is greater than zero? Use the 0.025 significance
level.
Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the...
Waterbury Insurance Company wants to study the relationship
between the amount of fire damage and the distance between the
burning house and the nearest fire station. This information will
be used in setting rates for insurance coverage. For a sample of 30
claims for the last year, the director of the actuarial department
determined the distance from the fire station (x) and the
amount of fire damage, in thousands of dollars (y). The
MegaStat output is reported below.
ANOVA table...
A study regarding the relationship between age and the amount of pressure sales personnel feel in...
A study regarding the relationship between age and the amount of
pressure sales personnel feel in relation to their jobs revealed
the following sample information. At the 0.01 significance level,
is there a relationship between job pressure and age?
Degree of Job Pressure
Age (years)
Low
Medium
High
Less than 25
20
24
41
25 up to 40
32
49
69
40 up to 60
30
63
89
60 and older
58
87
99
State the decision rule. Use 0.01...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 1 minute ago
asked 5 minutes ago
asked 24 minutes ago
asked 32 minutes ago
asked 43 minutes ago
asked 45 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago