Listed are the number of participants and the registration fee for each conference.

Identify the strength of correlation between the two variables and test if the relationship
is significant at 5% level. Assume that data are normally distributed. Will the R-squared
value be meaningful to describe the simple linear regression equation? Why or why
not?
1. Set the Level of Significance or Alpha Level (α)
α = 0.05

2. Define the variables

Dependent Variable: Registration fee of each conference
Independent Variable: Number of participants

3. Calculate Test Statistic.

4. Make Statistical Decision

Since Multiple R = 0.2693, then the relationship between the number of
participants and the registration fee of the conference is weakly positive.

5. Draw Conclusion
Since R-squared = 0.0725, it follows that the simple linear regression
equation does not describe the relation between the two variables.