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One Suppose that you record the daily high temperature and the daily amount of ice cream sold by an ice cream vendor at your favorite
One Suppose that you record the daily high temperature and the daily amount of ice cream sold by an ice cream vendor at your favorite beach this summer, starting on Memorial Day weekend and ending on Labor Day weekend. Would you expect to find a positive or negative association between these variables? Explain briefly. Question Two A researcher wants to investigate whether there is a relationship between annual company profit ($) and median annual salary paid by the company ($). The researcher collects data on a random sample of companies and after analyzing the data finds the p-value to be 0.56. Which of the following is an appropriate conclusion based on this p-value? A. There is no relationship between annual company profit ($) and median annual salary paid by the company ($). B. There is a relationship between annual company profit ($) and median annual salary paid by the company ($), and the corresponding value of the correlation coefficient is r = 0.56. C. There is not convincing evidence of a relationship between annual company profit ($) and median annual salary paid by the company ($). D. There is a 56% chance that there is no relationship between annual company profit ($) and median annual salary paid by the company ($)
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