You are given data on number of radio ads and sales for a local department store. You had observations for 20 months. The correlation betwee

Question

You are given data on number of radio ads and sales for a local department store. You had observations for 20 months. The correlation between ads and sales is 0.40. Does this indicate a positive and significant relationship between ads and sales at the 5% level of significance

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Thu Cúc 3 years 2021-09-04T14:13:13+00:00 1 Answers 73 views 0

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  1. Vodka
    0
    2021-09-04T14:14:14+00:00
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    Answer:

    “No” would be the appropriate response. A further explanation is provided below.

    Step-by-step explanation:

    According to the question,

    Number of observations,

    n = 20

    Significance level,

    d = 5%

    i.e.,

    = 0.05

    Calculated correlation,

    = 0.40

    Critical correlation value will be:

    =  0.444

    • According to the question, we can see that the calculated correlation i.e., “0.40” is far less than the critical correlation value i.e., “0.444“.
    • The null hypothesis has always been not rejected. Thus it doesn’t indicate the significant relationship.

    So the above it the right response.

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