NARRBEGIN: Experience and Salary
Longevity and Salary
a Sample of Eight

question 135

Essay

NARRBEGIN: Experience and Salary
Longevity and Salary
A sample of eight observations of variables x (years of experience) and y (salary in $1,000s) is shown below:
$$\begin{array} { | c | c c c c c c c c | } \hline \boldsymbol { x } & 5 & 3 & 7 & 9 & 2 & 4 & 6 & \mathbf { 8 } \\\hline y & 20 & 23 & 15 & 11 & 27 & 21 & 17 & 14 \\\hline\end{array}$$ NARREND
-Consider the following data:
$$\begin{array} { | c | c c c c c | } \hline \boldsymbol { x } & 9 & 6 & 7 & 5 & 8 \\\hline y & 19 & 14 & 16 & 12 & 15 \\\hline\end{array}$$
a.Calculate the covariance and the coefficient of correlation for the sample.
b.What do these statistics tell you about the relationship between x and y?

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Definitions:

Contemporary Business-World

The modern state of business practices, strategies, and environments, which are influenced by current technological, cultural, and economic trends.

Competencies

A combination of knowledge, skills, behaviors, and attitudes that contribute to personal effectiveness.

Work Group Influence

The impact that a group of colleagues can have on an individual’s behavior, productivity, and attitudes in the workplace.

Family Influence

The impact that family members have on one's values, beliefs, behavior, and life choices.