An analyst is examining the annual returns for Investment One and Investment Two over 33 years, as displayed in Exhibit 2. 

Although this time series plot provides some useful information, the analyst is most interested in quantifying how the returns of these two series are related, so she calculates the correlation coefficient, equal to 0.43051, between these series. 

1. Is there a significant positive correlation between these two return series if she uses a 1 percent level of significance? 

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Exhibit 2: Returns for Investments One and Two over 33 Years Annual Return (%) 12 10 8 6 2 0 -2 1 3 5 7 9 9 11 11 13 15 13 15 17 19 21 23 25 27 29 Year Investment One Investment Two 31 33