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Refer to Exercise 13 25 The data on ages in years

Refer to Exercise 13.25. The data on ages (in years) and prices (in hundreds of dollars) for eight cars of a specific model are reproduced from that exercise.

a. Do you expect the ages and prices of cars to be positively or negatively related? Explain.

b. Calculate the linear correlation coefficient.

c. Test at a 2.5% significance level whether is negative.

a. Do you expect the ages and prices of cars to be positively or negatively related? Explain.

b. Calculate the linear correlation coefficient.

c. Test at a 2.5% significance level whether is negative.

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