A study was done to see whether getting radio airtime and spending money on advertisements accurately predicts the number of album copies sold. A random sample of 200 artists’ albums were tracked on...

A study was done to see whether getting radio airtime and spending money on advertisements accurately predicts the number of album copies sold. A random sample of
200 artists’
albums were tracked on the number of times their songs play on the central radio station, how much money (in thousands) they spent on advertisements, as well as the number (in thousands) of album copies were sold. A record company wanted to determine if there was a
positive relationship between album sales and the other two variables (money spent on advertisements and number of albums sold).

Sales, Advertisements, Airtime

1)

Inferential statistic(s) and p-value(s)

2)

Based on your decision, identify and explain the type of error you could be making with respect to the conclusions of the study