A researcher wants to investigate whether there is a relationship between annual company profit ($) and median
Question:
A researcher wants to investigate whether there is a relationship between annual company profit ($) and median annual salary paid by the company ($). The researcher collects data on a random sample of companies and aft er analyzing the data finds the p-value to be 0.56. Which of the following is an appropriate conclusion based on this p value?
A. There is no relationship between annual company profit ($) and median annual salary paid by the company ($).
B. There is a relationship between annual company profit ($) and median annual salary paid by the company ($), and the corresponding value of the correlation coefficient is r = 0.56.
C. There is not convincing evidence of a relationship between annual company profit ($) and median annual salary paid by the company ($).
D. There is a 56% chance that there is no relationship between annual company profit ($) and median annual salary paid by the company ($).
Step by Step Answer:
Introduction To Statistical Investigations
ISBN: 9781118172148
1st Edition
Authors: Beth L.Chance, George W.Cobb, Allan J.Rossman Nathan Tintle, Todd Swanson Soma Roy