Consider the Following Data

question 38

Essay

Consider the following data:
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:

Mean

The average of a set of numbers, calculated by adding them all up and dividing by the count of those numbers.

Median

The middle value in a data set when the values are arranged in ascending or descending order, or the average of the two middle values if there is an even number of values.

Skewed

Describes data that is not symmetrically distributed, often leaning more heavily towards one side of the scale.

Large Coffee Prices

The cost associated with purchasing larger sizes of coffee beverages from cafes or coffee shops.