Oil Quality and Price Quality of oil is measured in API gravity degrees--the higher the degrees API, the higher the quality. The table shown below is produced by an expert in the field who believes that there is a positive relationship between quality and price per barrel. A partial statistical software output follows: {Oil Quality and Price Narrative} Conduct a test of the population coefficient of correlation to determine at the 5% significance level whether a positive linear relationship exists between the quality of oil and price per barrel.

Question

Oil Quality and Price Quality of oil is measured in API gravity degrees--the higher the degrees API, the higher the quality. The table shown below is produced by an expert in the field who believes that there is a positive relationship between quality and price per barrel.  A partial statistical software output follows:     {Oil Quality and Price Narrative} Conduct a test of the population coefficient of correlation to determine at the 5% significance level whether a positive linear relationship exists between the quality of oil and price per barrel.

Quizplus · Accepted Answer

The Answer of Oil Quality and Price Quality of oil is measured in API gravity degrees--the higher the degrees API, the higher the quality. The table shown below is produced by an expert in the field who believes that there is a positive relationship between quality and price per barrel.  A partial statistical software output follows:     {Oil Quality and Price Narrative} Conduct a test of the population coefficient of correlation to determine at the 5% significance level whether a positive linear relationship exists between the quality of oil and price per barrel.

Oil Quality and Price Quality of Oil Is Measured in API