A College Administrator Collected Information on First-Semester Night-School Students Do the Data Provide Sufficient Evidence to Conclude That the Random

question 12

Essay

A college administrator collected information on first-semester night-school students. A random sample taken of 12 students yielded the following data on age and GPA during the first semester. $$\begin{array}{l}\begin{array} { c c c } \text { Age}&& \text {GPA }\\{ x } & & y \\\hline 18 & & 1.2 \\26 & & 3.8 \\27 & & 2.0 \\37 & & 3.3 \\33 & & 2.5 \\47 & & 1.6 \\20 & & 1.4 \\48 & & 3.6 \\50 & & 3.7 \\38 & & 3.4 \\34 & & 2.7 \\22 & & 2.8\end{array}\end{array}$$ Do the data provide sufficient evidence to conclude that the variables age, $\mathrm { x }$ , and GPA, $\mathrm { y }$ , are correlated? Apply ; rank-correlation test. Use $\alpha = 0.05$ .

---

Definitions:

Variable Cost

Costs that vary based on a company's operations, including outlays for materials needed for manufacturing or other production-related inputs.

Economic Profit

The difference between a firm's total revenue and its total costs, including both explicit and implicit costs, representing the additional value created by the firm.

Accounting Profit

Accounting profit is the financial gain calculated by subtracting total explicit costs from total revenue.

Explicit Costs

Direct, out-of-pocket payments for wages, rent, materials, and other inputs necessary for the production of goods or services.