Two variables have a correlation coefficient equal to +0.55 from a sample size of 8. Which one of the following statements describes the results of the hypothesis test that the population correlation coefficient is greater than zero using ? = 0.05?
A) Because the test statistic is greater than the critical value, we fail to reject the null hypothesis and conclude that the population correlation coefficient is not greater than zero.
B) Because the test statistic is greater than the critical value, we can reject the null hypothesis and conclude that the population correlation coefficient is greater than zero.
C) Because the test statistic is less than the critical value, we fail to reject the null hypothesis and conclude that the population correlation coefficient is not greater than zero.
D) Because the test statistic is less than the critical value, we can reject the null hypothesis and conclude that the population correlation coefficient is not greater than zero.
C
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Michael had a $4,000 loss on the sale of his car. He
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