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Significance of correlation coefficient - test statistic

A pharmaceutical company conducts a study to evaluate the relationship between length of time taking drug X and size of tumor. They enlist 2400 patients with the same type of benign tumor who have been on drug X for varying lengths of time (measured in days). They find that the longer the patient is on the drug, the smaller the patient's tumor size (measured in volume). In fact, they report the results as r(2398) = -.21, with significance of p < .0001. What is your initial perception of this information?

What are other ways, beyond looking at the p-value alone, you could use to try to interpret what this outcome of r(2398) = -.21 tells us about the relationship between length of time taking drug X and the size of the tumor? Support your responses.

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Interpretation of Data
A pharmaceutical company conducts a study to evaluate the relationship between length of time taking drug X and size of tumor. They enlist 2400 patients with the same type of benign tumor who have been on drug X for varying lengths of time (measured in days). They find that the longer the patient is on the drug, the smaller the patient's tumor size (measured in volume). In fact, they report the results as r(2398) = -.21, with significance of p < .0001. What is your initial perception of this information?
Answer
Since the p-value is significant, we can conclude ...

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.

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