Correlation (Part 1)-compute r,r2 and 1-r2 for the problem below. What does r,r2 and 1-r2 mean? Is the correlation strong or weak? You are given the following data: X (Independent Variable) Y (Dependent variable) Month Advertising Expenditure (in Millions of $) Sales Revenue (in Millions of $) March 20 30 April
You are given the following data:
X (Independent Variable) Y (Dependent variable)
Month Advertising Expenditure (in Millions of $) Sales Revenue (in Millions of $)
March 20 30
April 40 60
May 20 40
June 30 60
July 10 30
August 10 40
September 20 40
October 20 50
November 20 30
December 30 70
Correlation(Part 2)-Do a Hypothesis Test for the
Assume that you want to test for a
You need to do the 6 steps for the Neyman-Pearson critical value test.You do not need to do a Fisher p-value test for the correlation coefficient ,r.
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