A study of 98 investment advisors asked them to predict the value of a penny stock a

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A study of 98 investment advisors asked them to predict the value of a “penny” stock a week ahead. The correlation between the values predicted and the actual value was 0.20. Was this evidence that they could predict penny stock performance?

a) State the null and alternative hypotheses about the correlation.

b) Calculate the test statistic.

c) Perform the test at

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Business Statistics

ISBN: 9780321716095

2nd Edition

Authors: Norean D. Sharpe, Paul F. Velleman, David Bock, Norean Radke Sharpe

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