(See Steps) A marketing research study performed by the marketing division of the Klondike Company surveyed the income levels and expenditures on recreation
Question: A marketing research study performed by the marketing division of the Klondike Company surveyed the income levels and expenditures on recreation for a sample of 20 people. Measurements recorded the expenditures on recreation during the previous year, \(y\), and the total annual family income, \(x\).
- Draw a scatter plot for these data and discuss what, if any, relationship appears to exist between the variables, based on the scatter plot.
- Compute the correlation coefficient for the two variables, income and dollars spent on recreation.
- Test to determine whether the amount spent on recreation increases as the annual family income increases. Use a significance level of 0.025.
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