A bank records the number of mortgage applications and its own prevailing interest rate (at the first of the month) for each of 16 consecutive months. Is there a correlation between the interest rate (x) and the number of applicants (y), and if so, is it significant at the 5% or the 1% significance level?
?
?
?
A. -0.652, significant at 5%
B. -0.652, no significant correlation
C. -0.733, significant at 1%
D. -0.587, significant at 5%
E. -0.587, significant at 1%
Answer: D
Mathematics
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