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The Cadet is a popular model of sport utility vehicle. For a random sample of 26 Cadets, each bought new two years ago and each
The Cadet is a popular model of sport utility vehicle. For a random sample of 26 Cadets, each bought "new" two years ago and each sold "used" within the past month, the sample correlation coefficient r relating mileage and used selling price was -0.44. Based on this information, test for a significant linear relationship between the two variables mileage and used selling price by doing a hypothesis test regarding the population correlation coefficient p. (Assume that the two variables have a bivariate normal distribution.) Use the 0.10 level of significance, and perform a two-tailed test. Then complete the parts below. (If necessary, consult a list of formulas.)
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