USA Today reported that about 47% of the general consumer population in the United States is loyal to the automobile manufacturer of the choice. Suppose Chevrolet did a study of a random sample of 1006 Chevrolet owners and found that 483 said they would buy another Chevrolet. Does this indicate that the population proportion of consumers loyal to Chevrolet is more than 47%? Use a = 0.01. (a) What is the level of significance? State the null and alternate hypotheses. O Ho: p = 0.47; H,: p # 0.47 O Ho: p = 0.47; H,: p > 0.47 O Ho: p > 0.47; H,: p = 0.47 %3D O Ho: p = 0.47; H¿: p < 0.47 (b) What sampling distribution will you use? O The Student's t, since np > 5 and ng > 5. The standard normal, since np < 5 and ng < 5. The Student's t, since np < 5 and nq < 5. The standard normal, since np > 5 and ng > 5. What is the value of the sample test statistic? (Round your answer to two decimal places.) (c) Find the P-value of the test statistic. (Round your answer to four decimal places.)
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
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