Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The data shown below consists of the price (in dollars) of 7 events at a local venue and the number of people who attended. Determine

image text in transcribedimage text in transcribed
The data shown below consists of the price (in dollars) of 7 events at a local venue and the number of people who attended. Determine if there is significant linear correlation between ticket price and number of attendees. Use a significance level of 0.05 and round all values to 4 decimal places. Ticket Price Attendence 6 144 10 147 14 138 18 144 22 143 26 143 30 140 34 135 38 130 Ho: p = 0 Ha: p = 0 Find the Linear Correlation Coefficient Find the p-value p-value = The p-value is Greater than C Less than (or equal to) o The p-value leads to a decision to O Reject Ho O Accept Ho O Do Not Reject HoThe conclusion is Q There is a significant negative linear correlation between ticket price and attendance. 0 There is a significant positive linear correlation between ticket price and attendance. C! There is insufficient evidence to make a conclusion about the linear correlation between ticket price and attendance. 0 There is a significant linear correlation between ticket price and attendance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finite Math And Applied Calculus

Authors: Stefan Waner, Steven Costenoble

7th Edition

1337515566, 9781337515566

More Books

Students also viewed these Mathematics questions

Question

Challenges Facing Todays Organizations?

Answered: 1 week ago