Longevity and Salary a Sample of Eight Observations of Variables

question 188

Essay

Longevity and Salary A sample of eight observations of variables x (years of experience)and y (salary in $1,000s)is shown below: ​ ​
-{Longevity and Salary Narrative}
a.Calculate and interpret the covariance between x and y.
b.Give a possible reason that the covariance is negative.

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Definitions:

Equity

The principle of fairness and impartiality, often applied in the context of law, finance, and social justice.

Psychological Exchange Theory

A social psychology concept suggesting that interpersonal relationships are formed and maintained based on perceived rewards and costs, mutual benefits, and fairness.

Social Exchange Theory

A theory that suggests human relationships are formed by the use of a subjective cost-benefit analysis and the comparison of alternatives.

Social Contagion

Imitative behavior involving the spread of behavior, emotions, and ideas.