Labor and material costs are two basic components in the
Chapter 11, Problem 106SE(choose chapter or problem)
Labor and material costs are two basic components in the cost of construction. Changes in the component costs of course lead to changes in total construction costs. The accompanying table tracks changes in construction cost and cost of all construction materials for 8 consecutive months.
Do the data provide sufficient evidence to indicate a nonzero correlation between the monthly construction costs and indexes of all construction materials? Give the attained significance level.
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