Pennsylvania Refining Company is studying the relationship between the pump price of gasoline and the number of gallons sold. For a sample of 20 stations last Tuesday, the correlation was 0.44. The following hypotheses are given. H0: ρ ≤ 0 H1: ρ > 0 a. Find the critical value at 0.010 significance level. (Round your answer to 3 decimal places.) b. Compute the value of the test statistic. (Round your answer to 3 decimal places.) c. What is the decision? (Choose 1 or 2.) 1. Reject null hypothesis 2. Do not reject null hypothesis d. What is the conclusion (Choose 1 or 2.) 1. There is enough evidence to conclude there is a positive correlation between gallons sold and the pump price. 2. There is not enough evidence to conclude there is a positive correlation between gallons sold and the pump price.

Pennsylvania Refining Company is studying the relationship between the pump price of gasoline and the number of gallons sold. For a sample of 20 stations last Tuesday, the correlation was 0.44. The following hypotheses are given. H0: ρ ≤ 0 H1: ρ > 0 a. Find the critical value at 0.010 significance level. (Round your answer to 3 decimal places.) b. Compute the value of the test statistic. (Round your answer to 3 decimal places.) c. What is the decision? (Choose 1 or 2.) 1. Reject null hypothesis 2. Do not reject null hypothesis d. What is the conclusion (Choose 1 or 2.) 1. There is enough evidence to conclude there is a positive correlation between gallons sold and the pump price. 2. There is not enough evidence to conclude there is a positive correlation between gallons sold and the pump price.

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 23PFA

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