Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and the profits (in millions of dollars). Determine if there is a significant linear correlation between advertising cost and profit . Use a significance level of 0.05 and round all values to 4 decimal places. Advertising Cost Profit 3 17 4 21 5 23 6 23 7 32 8 33 Ho: ρ = 0Ha: ρ ≠ 0Find the Linear Correlation Coefficient r =Find the p-value p-value =The p-value is Greater than αα Less than (or equal to) αα The p-value leads to a decision to Accept Ho Do Not Reject Ho Reject Ho The conclusion is There is insufficient evidence to make a conclusion about the linear correlation between advertising expense and profit. There is a significant positive linear correlation between advertising expense and profit. There is a significant negative linear correlation between advertising expense and profit. There is a significant linear correlation between advertising expense and profit.

Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and the profits (in millions of dollars). Determine if there is a significant linear correlation...

Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and the profits (in millions of dollars). Determine if there is a significant linear correlation between advertising cost and profit . Use a significance level of 0.05 and round all values to 4 decimal places.

Advertising Cost	Profit
3	17
4	21
5	23
6	23
7	32
8	33

Ho: ρ = 0
Ha: ρ ≠ 0

Find the Linear Correlation Coefficient
r =

Find the p-value
p-value =

The p-value is

Greater than αα

Less than (or equal to) αα

The p-value leads to a decision to

Accept Ho

Do Not Reject Ho

Reject Ho

The conclusion is

There is insufficient evidence to make a conclusion about the linear correlation between advertising expense and profit.

There is a significant positive linear correlation between advertising expense and profit.

There is a significant negative linear correlation between advertising expense and profit.

There is a significant linear correlation between advertising expense and profit.

Jun 09, 2022

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Listed below are paired data consisting of amounts spent on advertising (in millions of dollars) and the profits (in millions of dollars). Determine if there is a significant linear correlation...

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