Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of a barrel of oil are shown for a random selection of weeks from 2009-2010. Is there a linear relationship between the variables? Oil ($)       60.33    87.09    78.12    82.91    64.76    69.58 Gasoline($)       2.188    2.350    2.625    2.627    2.489    2.791 (a) Compute the value of the correlation coefficient. Round your answer to at least three decimal places. r= (b) State the hypotheses. H0 :    H1:    (c) Test the significance of the correlation coefficient at α=0.05 , using The Critical Values for the PPMC Table.  Critical values: ± ▼(Choose one) the null hypothesis.       (d) Give a brief explanation of the type of relationship. There ▼(Choose one) sufficient evidence to conclude that a significant linear relationship exists between the number of reported cases.

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Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of a barrel of oil are shown for a random selection of weeks from 2009-2010. Is there a linear relationship between the variables?

Oil ($)
  
   60.33
   87.09
   78.12
   82.91
   64.76
   69.58
Gasoline($)
  
   2.188
   2.350
   2.625
   2.627
   2.489
   2.791

(a) Compute the value of the correlation coefficient. Round your answer to at least three decimal places.

r=

(b) State the hypotheses.

H0 : 

 

H1: 

 

(c) Test the significance of the correlation coefficient at α=0.05 , using The Critical Values for the PPMC Table.

 Critical values: ±

▼(Choose one) the null hypothesis.

 

 

 

(d) Give a brief explanation of the type of relationship.

There ▼(Choose one) sufficient evidence to conclude that a significant linear relationship exists between the number of reported cases.

 

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