How important is to randomly select subject

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You are interested in knowing whether wealthier people are happier. You collected data from fifty people about their incomes and their overall happiness levels on a scale of 1 to 10. Upon analyzing the results, you find that the correlation coefficient has a value of -0.25.

On the basis of this data, respond to the following:

Question 1: How would you interpret the correlation coefficient in terms of strength and direction?

Question 2: How would the results be affected if you increased the number of subjects in the study to one thousand? Why might that affect the overall correlation?

Question 3: How important is it to randomly select subjects? Explain in detail using an example of a sample that might not be truly representative of the population.

Reference no: EM132864322

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