In an agricultural report, a commodities analyst claims that there is a significant correlation between purchased seed
Question:
In an agricultural report, a commodities analyst claims that there is a significant correlation between purchased seed expenses and fertilizer and lime expenses in the farming business. The table shows the total purchased seed expenses and fertilizer and lime expenses for farms in eight randomly selected states for a recent year. At \(\alpha=0.05\), is there enough evidence to support the analyst's claim?
(a) identify the claim and state \(H_{0}\) and \(H_{a}\),
(b) find the critical value,
(c) find the test statistic \(r_{s}\),
(d) decide whether to reject or fail to reject the null hypothesis, and
(e) interpret the decision in the context of the original claim.
Step by Step Answer:
Elementary Statistics Picturing The World
ISBN: 9781292260464
7th Global Edition
Authors: Betsy Farber, Ron Larson