To compute the t-test statistic for the correlation coefficient in Excel, you can use the TINV function. The syntax for this function is as follows:
=TINV(probability, degrees of freedom)
The probability value is the probability that the t-statistic would be greater than the calculated value, given the null hypothesis that the correlation coefficient is equal to 0. This value is usually 0.025 for a two-tailed test with a significance level of 0.05. The degrees of freedom is the number of observations minus 2.
Assuming you have the data for the two variables x and y in columns A and B, respectively, and that there are 5 observations, you can use the following formula to compute the t-test statistic for the correlation coefficient:
=TINV(0.025, 3)
This will return the t-test statistic for a two-tailed test with a significance level of 0.05 and 3 degrees of freedom.
To compute the correlation coefficient itself, you can use the CORREL function. The syntax for this function is as follows:
=CORREL(array1, array2)
Where array1 and array2 are the ranges of cells containing the data for the two variables.
For example, if the data for the two variables are in cells A2:A6 and B2:B6, respectively, you can use the following formula to compute the correlation coefficient:
=CORREL(A2:A6, B2:B6)
This will return the correlation coefficient for the data in the two ranges. You can then format the cell to display the result with 4 decimal places by selecting the cell, going to the Home tab, and clicking on the "Number Format" dropdown menu. From there, you can select the "Number" option and set the number of decimal places to 4.