1. The management of aregional bus line thought its cost of gas might correlatio
ID: 2916555 • Letter: 1
Question
1. The management of aregional bus line thought its cost of gas might correlation withits passenger/mile ratio. Comment on the data and correlationmatrix.
Average Wholesale Cost of Gas
Passenger/Mile Ratio
56.5
8.37
59.4
8.93
63.0
9.15
65.5
9.79
89.0
11.20
Correlation Coefficients/Probability > IRI
Under H0: RHO = 0/N = 5
Year
Price
Mile
Year
1.00
.87016
.95127
.0000
.0551
.0128
Price
.87016
1.000
.97309
.0551
.0000
.0053
Mile
.95127
.97309
1.0000
.0128
.0053
.00000
Average Wholesale Cost of Gas
Passenger/Mile Ratio
56.5
8.37
59.4
8.93
63.0
9.15
65.5
9.79
89.0
11.20
Explanation / Answer
The p-value for Year and Price is 0.0551 The p-value is large. So, these two are not significant. . The p-value for Year and Mile is 0.0128 The p-value is very small. So, these two aresignificant. . The p-value for Mile and Price is 0.0053 The p-value is very small. So, these two aresignificant. The p-value for Year and Mile is 0.0128 The p-value is very small. So, these two aresignificant. . The p-value for Mile and Price is 0.0053 The p-value is very small. So, these two aresignificant. The p-value for Mile and Price is 0.0053 The p-value is very small. So, these two aresignificant.Related Questions
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