A realtor studies the relationship between the size of a house (in square feet) and the property taxes (in $) owed by th

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A Realtor Studies The Relationship Between The Size Of A House In Square Feet And The Property Taxes In Owed By Th 1 (78.51 KiB) Viewed 30 times

A realtor studies the relationship between the size of a house (in square feet) and the property taxes (in $) owed by the owner. The table below shows a portion of the data for 20 homes in a suburb 60 miles outside of New York City. [You may find it useful to reference the t table.) Size 2488 2 Property Taxes 21877 17452 18277 3 2476 4 Size 2,488 2,476 5 Property Taxes 21,877 17,452 : 29,213 15646 Nm 0 0 0 1840 1012 5605 2537 2,840 6 7 43947 33623 8 15235 9 Click here for the Excel Data File 2278 1908 2069 1389 10 a-1. Calculate the sample correlation coefficient rxy- (Round intermediate calculations to at least 4 decimal places and final answers to 4 decimal places.) 16789 18174 16797 15150 36028 11 12 1397 13 3060 Sample correlation coefficient 14 2836 31072 42136 15 3369 1544 16 17 18 a-2. Interpret rxy. 14319 38994 25341 22972 16138 29213 4088 4064 2424 19 3550 20 21 2840 The correlation coefficient indicates a positive linear relationship. The correlation coefficient indicates a negative linear relationship. The correlation coefficient indicates no linear relationship. 22 23 ན

b. Specify the competing hypotheses in order to determine whether the population correlation coefficient between the size of a house and property taxes differs from zero. O HQ: Pxy = 0; HA: Pxy + 0 O HQ: Pxy ? 0; HA: Pxy < 0 Hp: Pxy = 0; HA: Pxy > 0 C-1. Calculate the value of the test statistic. (Round intermediate calculations to at least 4 decimal places and final answer to 3 decimal places.) Test statistic C-2. Find the p-value. O p-value < 0.01 O p-value Picture 0.10 O 0.05 Picture p-value < 0.10 O 0.02 Picture p-value < 0.05 O 0.01 Picture p-value < 0.02 d. At the 5% significance level, what is the conclusion to the test? O Reject He: we can state size and property taxes are correlated. O Reject Ho; we cannot state size and property taxes are correlated.

d. At the 5% significance level, what is the conclusion to the test? Reject He; we can state size and property taxes are correlated. O Reject He; we cannot state size and property taxes are correlated. O Do not reject He: we can state size and property taxes are correlated. O Do not reject Ho; we cannot state size and property taxes are correlated.