A realtor studies the relationship between the size of a house (in square feet) and the property taxes owed by the owner. He collects the following data on six homes in an affluent suburb 60 miles outside of New York City.
a. Construct and interpret a scatterplot,
b. Calculate and interpret sxy and rxy.
c. Specify the competing hypotheses in order to determine whether the population correlation between the size of a house and property taxes differs from zero.
d. Calculate the value of the test statistic and approximate its p-value.
e. At the 5% significance level, what is the conclusion to the test?