Σx = 58, Σy = 358, Σx2 = 422, Σy2 = 12,944, and Σxy = 2145. Test the claim that the population correlation coefficient ρ is positive at the 5% level of significance.
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
A sociologist is interested in the relation between x = number of job changes and y = annual salary (in thousands of dollars) for people living in the Nashville area. A random sample of 10 people employed in Nashville provided the following information.
In this setting we have Σx = 58, Σy = 358, Σx2 = 422, Σy2 = 12,944, and Σxy = 2145.
Test the claim that the population
Find or estimate the P-value of the test statistic.
Test the claim that the slope β of the population least-squares line is positive at the 5% level of significance.
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