Newburg Park, Florida is a popular, beach resort town. Property values are fairly high there and, as such, are rather well studied. One topic of study has been the relationship between housing prices and distance from the beach. For a recent sample of 17 houses sold in Newburg Park in the past year, the value of the sample correlation coefficient r relating the variables house price and distance from the beach was -0.61. Test for a significant linear relationship between the two variables by doing a hypothesis test regarding the population correlation coefficient p. (Assume that the two variables have a bivariate normal distribution.) Use the 0.05 level of significance, and perform a two-tailed test. Then complete the parts below. (If necessary, consult a list of formulas.) (a) State the null hypothesis H. and the alternative hypothesis H,. H, : B = 0 H, : B #0 O=0 OSO (b) Determine the type of test statistic to use. O20 O
Newburg Park, Florida is a popular, beach resort town. Property values are fairly high there and, as such, are rather well studied. One topic of study has been the relationship between housing prices and distance from the beach. For a recent sample of 17 houses sold in Newburg Park in the past year, the value of the sample correlation coefficient r relating the variables house price and distance from the beach was -0.61. Test for a significant linear relationship between the two variables by doing a hypothesis test regarding the population correlation coefficient p. (Assume that the two variables have a bivariate normal distribution.) Use the 0.05 level of significance, and perform a two-tailed test. Then complete the parts below. (If necessary, consult a list of formulas.) (a) State the null hypothesis H. and the alternative hypothesis H,. H, : B = 0 H, : B #0 O=0 OSO (b) Determine the type of test statistic to use. O20 O
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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Transcribed Image Text:Newburg Park, Florida is a popular, beach resort town. Property values are fairly high there and, as such, are rather well studied. One topic of study has been
the relationship between housing prices and distance from the beach.
For a recent sample of 17 houses sold in Newburg Park in the past year, the value of the sample correlation coefficient r relating the variables house price and
distance from the beach was -0.61. Test for a significant linear relationship between the two variables by doing a hypothesis test regarding the population
correlation coefficient p. (Assume that the two variables have a bivariate normal distribution.) Use the 0.05 level of significance, and perform a two-tailed test.
Then complete the parts below.
(If necessary, consult a list of formulas.)
(a) State the null hypothesis H. and the alternative hypothesis H,.
H, : B = 0
H, : B #0
OSO
(b) Determine the type of test statistic to use.
O<O
Degrees of freedom: 15
(c) Find the value of the test statistic. (Round to three or more decimal places.)
-2.981
(d) Find the two critical values at the 0.05 level of significance. (Round to three or more decimal places.)
I and I
(e) Based on the information, can we conclude (using the 0.05 level) that there is a significant linear
relationship between house price and distance from the beach in Newburg Park?
OYes ONo
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