For Exercises perform the following steps.

a. Draw the scatter plot for the variables.
b. Compute the value of the correlation coefficient.
c. State the hypotheses.
d. Test the significance of the correlation coefficient at α = 0.05, using Table I.
e. Give a brief explanation of the type of relationship.
Assume all assumptions have been met.

The average gasoline price per gallon (in cities) and the cost of a barrel of oil are shown
for a random selection of weeks from 2009–2010. Is
there a linear relationship between the variables?

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Oil ($) 46.25 37.51 78.00 75.39 84.88 73.78 Gasoline ($) 2.197 2.182 2.987 3.015 3.109 3.000