1.The paired data below consist of the costs of advertising (in thousands of dollars) and the number of products sold (in thousands): (Use a significant level of 0.05)

Cost

9

2

3

4

2

5

9

10

Number

85

52

55

68

67

86

83

73

Create a scatter graph. Does there seem to be visual evidence of correlation: _____________

If so, is the correlation positive or negative? _______________________

Write the Null and alternative hypothesis for correlation

Find the value of the linear correlation coefficient r: _____________________________

Find the value of the critical r: _____________________________

Find the P-Value: ________________________________

What conclusion do we make based on the P-value?Reject NullorFail to reject Null

Find the model equation for regression: y = _______*x + __________

Do we use this model to estimate a prediction?

If so, what is the estimated prediction for how many products will be sold if the cost of advertising is 7 thousand dollars?

If not, what should we use to make our estimate of how many products we will have given an advertising cost of 7 thousand dollars? What is that value?

Write a conclusion as a statement relating it to the actual problem?