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# Costco sells paperback books in their retail stores and wanted to examine the relationship between ...

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Costco sells paperback books in their retail stores and wanted to examine the relationship between price and demand. The price of a particular novel was adjusted each week and the weekly sales were recorded in the table below.

Management would like to test if the population Spearman rank-order correlation coefficient is less than zero. Using α = 0.05, which one of the following statements is true?

▸ Because the Spearman rank-order correlation coefficient is greater than the negative critical value, we can conclude that the population Spearman rank-order correlation coefficient is less than zero.

▸ Because the Spearman rank-order correlation coefficient is greater than the negative critical value, we cannot conclude that the population Spearman rank-order correlation coefficient is less than zero.

▸ Because the Spearman rank-order correlation coefficient is less than the negative critical value, we can conclude that the population Spearman rank-order correlation coefficient is less than zero.

▸ Because the Spearman rank-order correlation coefficient is less than the negative critical value, we cannot conclude that the population Spearman rank-order correlation coefficient is less than zero.
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ChaldorenChaldoren
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