Essay
Oil Quality and Price Quality of oil is measured in API gravity degrees--the higher the degrees API, the higher the quality. The table shown below is produced by an expert in the field who believes that there is a positive relationship between quality and price per barrel. A partial statistical software output follows:
{Oil Quality and Price Narrative} Calculate the Pearson correlation coefficient. What sign does it have? Why?
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r = 0.9616. It has a positive sign since...View Answer
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