In Try It Yourself 5, you calculated the correlation coefficient of the salaries and average attendances at home games for the teams in Major League Baseball to be r ≈ 0.769. Test the significance of this correlation coefficient. Use α = 0.01.

a. State the null and alternative hypotheses.

b. Identify the level of significance.

c. Identify the degrees of freedom.

d. Determine the critical values and the rejection regions.

e. Find the standardized test statistic.

f. Make a decision to reject or fail to reject the null hypothesis.

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