Nadia is investigating whether there is a correlation between the age of a second-hand car, in years, and its market value, in pounds.
Suggest a suitable null hypothesis and a suitable alternative hypothesis for a two-tailed test.
Nadia takes a random sample of 18 second-hand cars and obtains a product moment correlation coefficient of -0.45.
For n=18n = 18n=18, the critical value for a two-tailed test at the 5% level for the population correlation coefficient is 0.4683.
Carry out the hypothesis test at the 5% significance level.