Given the Following Sample Data A Calculate the Covariance and the Correlation Coefficient

question 115

Essay

Given the following sample data: $$\begin{array} { | c | c | c | c | c | c | c | c | c | c | c | } \hline x & 420 & 610 & 625 & 500 & 400 & 450 & 550 & 650 & 480 & 565 \\\hline y & 2.80 & 3.60 & 3.75 & 3.00 & 2.50 & 2.70 & 3.50 & 3.90 & 2.95 & 3.30 \\\hline\end{array}$$
a. calculate the covariance and the correlation coefficient.
b. comment on the relationship between X and Y.
c. determine the least-squares line.
d. draw the scatter diagram and plot the least-squares line.

---

Definitions:

General Ledger

A comprehensive record of all financial transactions that occur within a company, used to compile financial statements.

Posting

The procedure of transferring journal entries to the ledger accounts.

Adjusting Entries

Journal entries made in accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

General Journal

A primary accounting record used to record all types of transactions, including adjustments, in chronological order.