Answered: No. of eggs 957 119 (million) Price per…

No. of eggs 957 119 (million) Price per dozen ($) 1332 1163 1865 273 0.770 0.697 0.617 0.652 1.080 1.420 Test the significance of the correlation coefficient at a=0.05

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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Question

Number of eggs and price per dozen are shown. No. of eggs (million) Price per dozen ($) 957 1332 1163 1865 119 273 0.770 0.617 0.652 1.420 0.697 Test the significance of the correlation coefficient at a=0.05 1.080 Step 1: State the hypotheses. Step 2: Find the critical values. Step 3. Compute the test value. Step Ma the decision. Step 5. Summarize the results.

Number of eggs and price per dozen are shown.
No. of eggs
(million)
957
1332
1163 1865
119
273
Price per
dozen ($)
0.770 0.697 0.617 0.652 1.080 1.420
Test the significance of the correlation coefficient at a=0.05
r =
Step 1: State the hypotheses.
Step 2: Find the critical values.
Step 3. Compute the test value.
Step 4. Make the decision.
Step 5. Summarize the results.
:: Reject the null
: Fail to reject the null
:: +2.364
:: +2.811
:: +2.776
:: There is a significant linear relationship between the two variables
:: There is not a significance linear relationship between the two variables
:: -2.999
:: -2.900
:: -2.009
: Ho: ρ 40; Ha: ρ -0
: Ho: p = 0 ; Ha: p + 0
:: +0.823
:: -0.832
: -0.823

Definition Definition Statistical measure used to assess the strength and direction of relationships between two variables. Correlation coefficients range between -1 and 1. A coefficient value of 0 indicates that there is no relationship between the variables, whereas a -1 or 1 indicates that there is a perfect negative or positive correlation.

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