A grocery store manager did a study to look at the relationship between the amount of time (in minutes) customers spend in the store and the amount of money (in dollars) they spend. The results of the survey are shown below. Time 10 8 6 13 19 18 27 10 7 Money 58 25 41 51 84 81 87 45 15 Find the correlation coefficient: r=r= Round to 2 decimal places. The null and alternative hypotheses for correlation are: H0:H0: == 0 H1:H1: ≠≠ 0 The p-value is: (Round to four decimal places) Use a level of significance of α=0.05α=0.05 to state the conclusion of the hypothesis test in the context of the study. There is statistically insignificant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the use of the regression line is not appropriate. There is statistically significant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the regression line is useful. There is statistically significant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store. There is statistically insignificant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A grocery store manager did a study to look at the relationship between the amount of time (in minutes) customers spend in the store and the amount of money (in dollars) they spend. The results of the survey are shown below.

Time	10	8	6	13	19	18	27	10	7
Money	58	25	41	51	84	81	87	45	15

Find the correlation coefficient: r=r= Round to 2 decimal places.
The null and alternative hypotheses for correlation are:
H0:H0:      == 0
H1:H1:       ≠≠ 0
The p-value is:    (Round to four decimal places)
Use a level of significance of α=0.05α=0.05 to state the conclusion of the hypothesis test in the context of the study.
- There is statistically insignificant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the use of the regression line is not appropriate.
- There is statistically significant evidence to conclude that there is a correlation between the amount of time customers spend at the store and the amount of money that they spend at the store. Thus, the regression line is useful.
- There is statistically significant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store.
- There is statistically insignificant evidence to conclude that a customer who spends more time at the store will spend more money than a customer who spends less time at the store.