Use the following information regarding a variable (Y) and a variable (X)

| August 30, 2017

Question
Use the following information regarding a variable (Y) and a variable (X) to answer this next 6 questions.

n = 8
? x = 56
? y = 296
? x 2= 428
? y 2= 11,920
? xy = 2,257

The sample covariance equals

a.
12.12

b.
26.43

c.
9.17

d.
-9.17

The sample correlation coefficient equals:

a.
-0.67

b.
1.67

c.
0.991

d.
0.85

Given the sample correlation coefficient in question above. The comment is:

a.
There is a strong and positive relation between X & Y.

b.
There is a strong and negative relation between X & Y.

c.
There is a weak and positive relation between X & Y.

d.
Not enough information to comment.

Refer to above question.

To test for a direct relation between X and Y, the appropriate hypothesis is:

a.
Ho: ? = 0 Ha: ? > 0

b.
Ho: ? > 0 Ha: ? < 0

c.
Ho: ? = 0 Ha: ? ? 0

d.
Ho: ? 0

For the above test, the calculated value of test statistic is:

a.
-4.55

b.
3.61

c.
-2.55

d.
17.37

Using a 1% significance level, the critical value for this test is:

a.
1.796

b.
2.015

c.
3.143

d.
1.812

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