You are interested in knowing whether wealthier people are happier. You collecte

Question

You are interested in knowing whether wealthier people are happier. You collected data from fifty people about their incomes and their overall happiness levels on a scale of 1 to 10. Upon analyzing the results, you find that the correlation coefficient has a value of 0.25. On the basis of this data, respond to the following:

How would you interpret the correlation coefficient in terms of strength and direction?

How would the results be affected if you increased the number of subjects in the study to one thousand? Why might that affect the overall correlation?

How important is it to randomly select subjects? Explain in detail using an example of a sample that might not be truly representative of the population.

Explanation / Answer

a)

From the correlation coefficient, observe that the correlation between income and happy is low amount of negative correlation.

That is, if the income level is decreases then the people is more happier or if the income level is high then they are not happier.

b)

If the number of subjects is increase then the correlation coefficient is slightly decrease and it will reaches to positive also.

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