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Based on 37 monthly observations, you calculate the correlation between the returns of the SP500 index and small cap index to be 0.951. What is

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Based on 37 monthly observations, you calculate the correlation between the returns of the SP500 index and small cap index to be 0.951. What is the t-statistic for this observation, assuming the variables are normally distributed? (Bonus thinking questions: Use the T.INV() spreadsheet function, with the appropriate degrees of freedom, to see if you can reject the null hypothesis of no correlation at the 5% level. Use T.DIST() function to calculate the p-value of your t-statistic.)

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