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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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2021-09-04T14:13:13+00:00
2021-09-04T14:13:13+00:00 1 Answers
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Answers ( )
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
So the above it the right response.