Labor and material costs are two basic components in the cost of construction. Changes
Chapter 11, Problem 11.106(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. Index of All Construction Construction Month Cost (y) Materials (x) January 193.2 180.0 February 193.1 181.7 March 193.6 184.1 April 195.1 185.3 May 195.6 185.7 June 198.1 185.9 July 200.9 187.7 August 202.7 189.6 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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