Midwest Company is studying the relationship between the sales by an employee and the number of years the employee has worked in the company. The data for a random sample of 12 sales representatives of Midwest company is given in the table below:Number of Years (X)352826714296Sales487445272641187440346238312269655563Given the follwing set of null and alternative hypothesis, H0: ρ ≤ 0 ; H1: ρ > 0 conduct correlation and regression analysis by answering the questions below:Find the value of correlation coefficient (r) :(Round to 3 decimal places) Find the critical value at 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.)What is the decision? (Choose 1 or 2.)Reject null hypothesisDo not reject null hypothesis e. What is the conclusion(Choose 1 or 2.)There is enough evidence to conclude there is a positive correlation between Sales and Number of YearsThere is not enough evidence to conclude there is a positive correlation between Sales and Number of Years. What is the regression equation : y= + x (Round to 2 decimal places) Determine the estimated sales if number of years = 10. (Round to 2 decimal places)

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Description: Midwest Company is studying the relationship between the sales by an employee and the number of years the employee has worked in the company. The data for a random sample of 12 sales representatives of Midwest company is given in the table below:Numb

Correlational Analysis: H0 : ρ ≤ 0 H1 : ρ > 0 Level of significance = 0.01 1. The value of…

Answered: Find the value of correlation…

MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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Midwest Company is studying the relationship between the sales by an employee and the number of years the employee has worked in the company. The data for a random sample of 12 sales representatives of Midwest company is given in the table below:

Number of Years (X)	3	5	2	8	2	6	7	1	4	2	9	6
Sales	487	445	272	641	187	440	346	238	312	269	655	563

Given the follwing set of null and alternative hypothesis, H₀: ρ ≤ 0 ; H₁: ρ > 0 conduct correlation and regression analysis by answering the questions below:

Find the value of correlation coefficient (r) :(Round to 3 decimal places)

Find the critical value at 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.)
What is the decision? (Choose 1 or 2.)
Reject null hypothesis
Do not reject null hypothesis

e. What is the conclusion(Choose 1 or 2.)
There is enough evidence to conclude there is a positive correlation between Sales and Number of Years
There is not enough evidence to conclude there is a positive correlation between Sales and Number of Years.

What is the regression equation : y= + x (Round to 2 decimal places)

Determine the estimated sales if number of years = 10. (Round to 2 decimal places)

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