Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Pennsylvania Refining Company is studying the relationship between the pump price of gasoline and the number of gallons sold. For a sample of 21 stations
Pennsylvania Refining Company is studying the relationship between the pump price of gasoline and the number of gallons sold. For a sample of 21 stations last Tuesday, the correlation was 0.42 The following hypotheses are given. Hypso Hi:p>O a. State the decision rule for 0.025 significance level. (Round your answer to 3 decimal places.) Reject H, ift > b. Compute the value of the test statistic. (Round your answer to 3 decimal places.) Value of the test statistic is c. Can we conclude that the correlation In the population is greater than zero? Use the 0.025 significance level. Hy . We conclude that the correlation in the population is zero
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started