Determine whether the correlation in the population is zero

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Reference no: EM13143092

A major oil company is studying the relationship between the daily traffic count and the number of gallons of gasoline pumped at company stations. A sample of eight company owned stations is selected and the following information obtained:
a. Develop a scatter diagram with the amount of gasoline pumped as the dependent variable.
b. Compute the coefficient of correlation
c. Compute the coefficient of determination.
d. Interpret the meaning of the coefficient of determination.
e. Test to determine whether the correlation in the population is zero, versus the alternate hypothesis that the correlation is greater than zero. Use the 0.05 significance level.

Reference no: EM13143092

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