2. A Rural Bank is studying the relationship between the mean account balance for individual accounts and the number of transactions per month. A sample of 8 accounts revealed: 1 2 3 4 5 6 7 8 Customer Mean Balance (in thousand pesos) No. of Transactions 27 11 32 2 50 5 24 9 53 7 10 2 16 4 15 10 Find the coefficient of correlation. Determine at 0.01 significance level whether the correlation is not equal to zero.

2. A Rural Bank is studying the relationship between the mean account balance for individual accounts and the number of transactions per month. A sample of 8 accounts revealed: 1 2 3 4 5 6 7 8 Customer Mean Balance (in thousand pesos) No. of Transactions 27 11 32 2 50 5 24 9 53 7 10 2 16 4 15 10 Find the coefficient of correlation. Determine at 0.01 significance level whether the correlation is not equal to zero.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.5: Correlation And Causation

Problem 2AGP

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Question

COMPUTING FOR THE CORRELATION COEFFICIENT

Show the following statement:

State the hypotheses
Level of significance
t–test for significance of correlation
coefficient
Decision rule
Conclusion

2. A Rural Bank is studying the relationship between the mean account balance for individual
accounts and the number of transactions per month. A sample of 8 accounts revealed:
2
3
5
6
Customer 1
Mean
Balance (in
thousand
pesos)
No. of
Transactions
27
11
32
2
50
5
4
24
9
53
7
10
2
7
16
4
8
15
10
Find the coefficient of correlation. Determine at 0.01 significance level whether the correlation is
not equal to zero.

Definition Definition Statistical measure used to assess the strength and direction of relationships between two variables. Correlation coefficients range between -1 and 1. A coefficient value of 0 indicates that there is no relationship between the variables, whereas a -1 or 1 indicates that there is a perfect negative or positive correlation.

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