Pennsylvania Refining Company is studying the relationship between the pump pric

Question

Pennsylvania Refining Company is studying the relationship between the pump price of gasoline and the number of gallons sold. For a sample of 14 stations last Tuesday, the correlation was 0.65.

1. State the decision rule for 0.01 significance level. (Round your answer to 3 decimal places.)

     Reject H0 if t>______

2. Compute the value of the test statistic. (Round your answer to 3 decimal places.)

    Value of the test statistic is _______

3. Can we conclude that the correlation in the population is greater than zero? Use the 0.01 significance level.

    ______H0. We ________ conclude that the correlation in the population is ______ Zero.

Explanation / Answer

1) Reject H0 if t> 2.68

2) Value of the test statistic is = 2.96

3) p = 0.00596

p < 0.01

Reject H0

____Reject__H0. We __can______ conclude that the correlation in the population is _____greater_ Zero.

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