Question

Asked Apr 18, 2019

Step 1

The correlation coefficient between two variables *x* and *y* can be calculated using the formula given below:

Step 2

Let *x* and *y* be the random variables that represent advertising cost and profit, both in million dollars respectively. Here, there are 6 data pairs of (*x, y*). So, n=6.

The computation of correlation coefficient is shown below:

Step 3

The provided alternative hypothesis suggests that the test is left-sided....

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