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can you explain Significance correlation coefficient **Correlation is significant at the 0.05 level Correlation Probability LREER...

can you explain Significance correlation coefficient

**Correlation is significant at the 0.05 level

Correlation

Probability

LREER

LRNGDP

LTOUR

1.000000

LTOUR

-----

1.000000

0.961595

LRNGDP

-----

0.0000

1.000000

-0.207082

-0.240672

LREER

-----

0.4097

0.3360

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Answer #1

Answer:

The given table shows the correlation coefficient among three variables LTOUR, LRNGDP and LREER.

Specifically, the correlation coefficient between LTOUR and LRNGDP is 0.961595

and the correlation coefficient between LTOUR and LREER is 0.240692

and the correlation coefficient between LRNGDP and LREER is 0.207082

But the the correlation coefficient between LTOUR and LRNGDP is significant at 5% level because the correlation coefficient between these two variables is 0.961595 and the its p-value is 0.0000 (which is less than 0.05). Hence we can say that there is a significant and strong positive correlation between LTOUR and LRNGDP. But the p-value of correlation coefficient between LTOUR and LREER & LRNGDP and LREER are 0.3360 and 0.4097 which are more than the 0.05 (5% level). Hence, we can not say that there is a positive correlation between LTOUR and LREER or between LRNGDP and LREER.

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