The Following Data Represent the Daily Demand (Y in Thousands

question 41

Essay

The following data represent the daily demand (y in thousands of units) and the unit price (x in dollars) for a product. $$\begin{array} { l c } \text { Daily Demand (y) } & \text { Unit Price (x) } \\47 & 1 \\39 & 3 \\35 & 5 \\44 & 3 \\34 & 6 \\20 & 8 \\15 & 16 \\30 & 6\end{array}$$ ​
a.
Compute and interpret the sample covariance for the above data.
b.
Compute and interpret the sample correlation coefficient.

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Definitions:

Foul Odors

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The ingestion of alcoholic beverages, which can range from moderate drinking to excessive or binge drinking behaviors.