Regression, correlation, Year 2 hypothesis testing Flashcards

1
Q

y=ax^n

A

logy = loga + nlogx

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2
Q

y=kb^x

A

logy = logk + xlogb

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3
Q

PMCC and values for correlation

A

x > |0.7| = strong correlation
|0.4| < x < |0.7| = weak correlation
x < |0.4|= no correlation

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4
Q

set up for correlation hypothesis test
10% significance level
PMCC calculated is 0.45

A

sample size = 30
H0: rho = 0 H1: rho not equal to 0
5% significance per tail
from table: r= -0.3061
-0.45 < -0.3061 (test statistic < cv)
enough evidence to reject H0
there is evidence, at 10% significance, that there is a correlation between _____

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