In Try It Yourself 4, you calculated the correlation coefficient of the number of years out of school and annual contribution data to be r ≈ -0.908. Is the correlation coefficient significant? Use α = 0.01.

a. Determine the number of pairs of data in the sample.

b. Identify the level of significance.

c. Find the critical value. Use Table 11 in Appendix B.

d. Compare | r | with the critical value and decide whether the correlation is significant.

e. Interpret the decision in the context of the original claim.