The Sample Correlation Coefficient Between X and Y Is 0 $\rho$

question 41

Multiple Choice

The sample correlation coefficient between X and Y is 0.375.It has been found out that the p- value is 0.256 when testing H0 : $\rho$ = 0 against the two-sided alternative H1 : $\rho$ = 0 .To testH0 : $\rho$$\neq$ 0 against the one-sided alternative H1 : $\rho$ = 0 at a significance level of 0.1, the p-value is

• A)0.256/2
• B)(0.256)(2)
• C)1-0.256
• D)1-0.256/2

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Definitions:

Unit Elasticity

A scenario in which the percentage change in quantity demanded or supplied is equal to the percentage change in price, resulting in no change in total revenue.

Total Spending

The aggregate amount of money spent by consumers, businesses, and the government in an economy over a specific period.

Inelastic

Characterizes a condition where a change in price leads to a relatively small change in the quantity demanded or supplied.

Price Elasticity of Demand

The responsiveness of the quantity demanded of a good to a change in its price, with all other factors being held constant.