Testing for a Linear Correlation . In Exercises 13-28, construct a scatterplot , and find the value of the linear correlation coefficient r. Also find tire P-value or the critical values of r from Table A-6 using α = 0.05. Determine whether there is sufficient evidence to support a claim of a linear correlation between the two variables. (Save your work because the same data sets will be used in Section l0-3 exercises.) 18. Auction Bids The author is a member of the board of directors of a nonprofit organization that held a fund-raising auction. He recorded the opening bids suggested by the auctioneer and the final winning bids for several items. The amounts are listed below. Is there sufficient evidence to conclude that there is a linear correlation between the opening bids suggested by the auctioneer and the final winning bids? Opening Bid 1500 500 500 400 300 Winning Bid 650 175 12S 275 125
Testing for a Linear Correlation . In Exercises 13-28, construct a scatterplot , and find the value of the linear correlation coefficient r. Also find tire P-value or the critical values of r from Table A-6 using α = 0.05. Determine whether there is sufficient evidence to support a claim of a linear correlation between the two variables. (Save your work because the same data sets will be used in Section l0-3 exercises.) 18. Auction Bids The author is a member of the board of directors of a nonprofit organization that held a fund-raising auction. He recorded the opening bids suggested by the auctioneer and the final winning bids for several items. The amounts are listed below. Is there sufficient evidence to conclude that there is a linear correlation between the opening bids suggested by the auctioneer and the final winning bids? Opening Bid 1500 500 500 400 300 Winning Bid 650 175 12S 275 125
Solution Summary: The author explains how to construct a scatterplot using the MINITAB software. The linear correlation coefficient r is 0.947.
Testing for a Linear Correlation. In Exercises 13-28, construct a scatterplot, and find the value of the linear correlation coefficient r. Also find tire P-value or the critical values of r from Table A-6 using α = 0.05. Determine whether there is sufficient evidence to support a claim of a linear correlation between the two variables. (Save your work because the same data sets will be used in Section l0-3 exercises.)
18. Auction Bids The author is a member of the board of directors of a nonprofit organization that held a fund-raising auction. He recorded the opening bids suggested by the auctioneer and the final winning bids for several items. The amounts are listed below. Is there sufficient evidence to conclude that there is a linear correlation between the opening bids suggested by the auctioneer and the final winning bids?
Opening Bid
1500
500
500
400
300
Winning Bid
650
175
12S
275
125
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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