CORRELATION: 5. A used car depot wants to study the relationship between the age of a car and its selling price. Listed is a random sample of 9 cars sold at the depot during the last 3 months. Determine the coefficient of correlation using spearman rank correlation and test the significance at 0.01.
CORRELATION: 5. A used car depot wants to study the relationship between the age of a car and its selling price. Listed is a random sample of 9 cars sold at the depot during the last 3 months. Determine the coefficient of correlation using spearman rank correlation and test the significance at 0.01.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
5. A used car depot wants to study the relationship between the age of a car and
its selling price. Listed is a random sample of 9 cars sold at the depot during
the last 3 months.
Determine the coefficient of correlation using
the significance at 0.01.
![| 3
Car
Age (years)
Selling Price
(PO00)
'1.
4
5
6.
7
2.5
320 170 120 | 280 | 190 250 300 400
4
8
10
7
5.5
4
350
o IN](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffaf77a00-d8de-4747-9059-864080288788%2F2267281f-5c0a-4f54-b9bc-c2b055b77a3d%2F527icvk_processed.png&w=3840&q=75)
Transcribed Image Text:| 3
Car
Age (years)
Selling Price
(PO00)
'1.
4
5
6.
7
2.5
320 170 120 | 280 | 190 250 300 400
4
8
10
7
5.5
4
350
o IN
![Solution:
Step 1: State the hypotheses
Step 2: The level of significance is,
Step 3: Determine the critical region. df=,
teritical =
Step 4: Complete the table and compute for the value of p and t-test.
Pair
Y
Rx
RY
D?
1
3
6.
8
tcomputed"
Step 5: Decision Rule.
Step 6: Conclusion. .](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffaf77a00-d8de-4747-9059-864080288788%2F2267281f-5c0a-4f54-b9bc-c2b055b77a3d%2Fjrw01be_processed.png&w=3840&q=75)
Transcribed Image Text:Solution:
Step 1: State the hypotheses
Step 2: The level of significance is,
Step 3: Determine the critical region. df=,
teritical =
Step 4: Complete the table and compute for the value of p and t-test.
Pair
Y
Rx
RY
D?
1
3
6.
8
tcomputed"
Step 5: Decision Rule.
Step 6: Conclusion. .
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