Suppose You Will Perform a Test to Determine Whether There $\alpha$

question 2

Multiple Choice

Suppose you will perform a test to determine whether there is sufficient evidence to support a claim of a linear
correlation between two variables. Find the critical values of r given the number of pairs of data n and the significance
level $\alpha$
-Ten pairs of data yield $r = 0.003$ and the regression equation $\hat { y } = 2 + 3 x .$ Also, $\bar { y } = 5.0$ . What is the best predicted value of $y$ for $x = 2$ ?

• A) \(8.0\)
• B) \(17.0\)
• C) \(5.0\)
• D) \(7.0\)

---

Definitions:

Inverse Demand

A representation of demand that expresses price as a function of quantity demanded, contrary to the typical demand function.

Inverse Supply

A concept in economics that describes a situation in which the supply of a good decreases as its price decreases, opposite to the normal supply behavior.

Tax

Mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Excess Demand

A situation where the quantity demanded of a good exceeds the quantity supplied at a particular price, leading to a shortage.