SOLUTION: A realtor studies the relationship between the size of a house (in square feet) and the property taxes (in $) owed by the owner. The table below shows a portion of the data for 20

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Question 1163404: A realtor studies the relationship between the size of a house (in square feet) and the property taxes (in $) owed by the owner. The table below shows a portion of the data for 20 homes in a suburb 60 miles outside of New York City. [You may find it useful to reference the t table.]

Property Taxes Size
21,860 2,486
17,463 2,447
------ -----
29,226 2,845


1. Calculate the sample correlation coefficient rxy. (Round intermediate calculations to at least 4 decimal places and final answers to 4 decimal places.)

2. Interpret rxy.
a. The correlation coefficient indicates a positive linear relationship.
b. The correlation coefficient indicates a negative linear relationship.
c. The correlation coefficient indicates no linear relationship.

3. Specify the competing hypotheses in order to determine whether the population correlation coefficient between the size of a house and property taxes differs from zero.
a. H0: ρxy = 0; HA: ρxy ≠ 0
b. H0: ρxy ≥ 0; HA: ρxy < 0
c. H0: ρxy ≤ 0; HA: ρxy > 0
4. Calculate the value of the test statistic. (Round intermediate calculations to at least 4 decimal places and final answer to 3 decimal places.)

5. Find the p-value.
6. At the 1% significance level, what is the conclusion to the test?
a. Reject H0; we can state size and property taxes are correlated.
b. Reject H0; we cannot state size and property taxes are correlated.
c. Do not reject H0; we can state size and property taxes are correlated.
d. Do not reject H0; we cannot state size and property taxes are correlated.

Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


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John

My calculator said it, I believe it, that settles it