Significance of correlation: T Test
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Correlation and Regression
Use these parameters to guide me through the steps in solving this problem.
Is there a correlation between the age/year of Car and the value?
YEAR, YEARS OLD; VALUE (1000's)
1981, 30, 21
1986, 25, 21
1991, 20, 23
1996, 15, 26
2001, 10, 29
2006, 05, 46
- Show formula used and walk through the steps.
- State the hypotheses.
- Find the critical values
- Compute the test value
- Make the decision
- Summarize the results
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Solution Summary
The solution provides step by step method for the calculation of test statistic for significance of correlation coefficient. Formula for the calculation and Interpretations of the results are also included.
Solution Preview
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Correlation and Regression
Use these parameters to guide me through the steps in solving this problem.
Is there a correlation between the age/year of Car and the value?
YEAR, YEARS OLD; VALUE (1000's)
1981, 30, 21
1986, 25, 21
1991, 20, 23
1996, 15, 26
2001, 10, 29
2006, 05, 46
Answer
The correlation between X, Y is given by ...
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