The following is a set of data from a sample of n = 11 items. Complete parts (a) through (c). 1 14 13 15 16 12 10 19 Y 28 26 8 30 32 24 20 38 2 a. Compute the covariance. (Round to three decimal places as needed.) b. Compute the coefficient of correlation. (Do not round until the final answer. Then round to three decimal places as needed.) c. How strong is the relationship between X and Y? Explain. O A. X and Y have a perfect negative correlation because all points fall on a straight line with a negative slope. O B. X and Y have a strong positive correlation because as X increases, Y tends to increase also. O C. X and Y have a perfect positive correlation because all points fall on a straight line with a positive slope. O D. X and Y have no correlation. 124

The following is a set of data from a sample of n = 11 items. Complete parts (a) through (c). 1 14 13 15 16 12 10 19 Y 28 26 8 30 32 24 20 38 2 a. Compute the covariance. (Round to three decimal places as needed.) b. Compute the coefficient of correlation. (Do not round until the final answer. Then round to three decimal places as needed.) c. How strong is the relationship between X and Y? Explain. O A. X and Y have a perfect negative correlation because all points fall on a straight line with a negative slope. O B. X and Y have a strong positive correlation because as X increases, Y tends to increase also. O C. X and Y have a perfect positive correlation because all points fall on a straight line with a positive slope. O D. X and Y have no correlation. 124

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter2: Descriptive Statistics

Section: Chapter Questions

Problem 24P: Five observations taken for two variables follow. a. Develop a scatter diagram with x on the...

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The following is a set of data from a sample of n =11items Complete parts (a) through left parenthesis c right parenthesis . X 6 36 27 54 21 39 24 9 39 39 33 Y 2 12 9 18 7 13 8 3 13 13 11 a. Compute the covariance. (Round to three decimal places as needed.) b. Compute the coefficient of correlation. (Do not round until the final answer. Then round to three decimal places as needed.) c. How strong is the relationship between X and Y? Explain. A. X and Y have no correlation. B. X and Y have a perfect positive correlation because all points fall on a straight line with a positive slope. C. X and Y have a perfect negative correlation because all points fall on a straight line with a negative slope. D. X and Y have a strong positive correlation because as X increases, Y tends to increase also.
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