Calculate the correlation coefficient for this sample

Assignment Help Finance Basics

Reference no: EM131099753

Please complete question below:

Suppose GNC, a vitamin and supplement supplier, would like to investigate the relationship between the size of an order and the age of the customer who ordered it. This information could allow GNC to target its promotions to specific age groups. The following table shows the ages for seven randomly selected customers along with their most recent order sizes in dollars.

Age	Order Size ($)	Age	Order Size ($)
3	28	10	9
6	19	8	25
11	16	8	11
14	6

Part B: Calculate the correlation coefficient for this sample

Part C: Using alpha=0.05, perform a hypothesis test to determine if the population correlation coefficient is greater than zero?

Please type answer on word document
-i attached a file with a similar question to show how it should be set up

Reference no: EM131099753

Questions Cloud

Define the positioning opportunities for your brand : Identify all brand elements (logos, slogans, symbols, trademarks, characters, and packaging). Provide rationale for each of the elements in the context of the 3 competitors you researched in Unit 1.

What is the probability that one : (a) What is the probability that one will be green and the other red? (b) What is the probability that one will be blue and the other yellow?

Algorithm description : Code in (plotarrows.m and mean2d.m) attempts to implement the algorithm. But right now it contains a number of bugs. Some of these are SYNTAX errors, some are ALGORITHM errors, and some are INPUT errors.

Evidence to support the shop claim : A repair shop believes that people travel more than 3500 miles between oil changes. A random sample of 8 cars getting an oil change has a mean distance of 3375 miles since having an oil change with a standard deviation of 225 miles. At alpha = 0.0..

Calculate the correlation coefficient for this sample : Suppose GNC, a vitamin and supplement supplier, would like to investigate the relationship between the size of an order and the age of the customer who ordered it.

Develop a marketing research proposal : Final Research Proposal Assessment Type Written Assignment Purpose Your group has been asked to design a marketing research project for a product of your choice. Lately the product has not been performing well. You need to develop a marketing rese..

Statement about the percentage of colleges : 1. Use Tchebysheff's Theorem to make a statement about the percentage of colleges that have between 145 and 205 teachers. 2. Assume that the distribution is bell shaped. What fraction of the colleges have more that 190 teachers.

Develop breast cancer : In the general population, one woman in ten will develop breast cancer. Research has shown that 1 woman in 600 carries a mutation of the BRCA gene. Seven out of 10 women with this mutation develop breast cancer. a) Find the probability that a ran..

Advantage of industry developments and market opportunities : To focus on internal strategic activities to enable the business to continue to grow and innovate while still maintaining a culture that is caring and supportive, whilst still being effective and efficient. To focus on strategic activities to take ad..

User Account

All Pages