Longevity and Salary a Sample of Eight Observations of Variables

question 222

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:

Netherlands

A country located in Northwestern Europe, known for its flat landscape, extensive canal systems, tulip fields, windmills, and cycling routes.

Germany

A country in Central Europe known for its rich history, culture, and contributions to the world in various fields like technology, science, and the arts.

Defense Spending

The amount of financial resources dedicated by a nation to maintaining and enhancing its armed forces or defense capabilities.

Federal Budget

An annual financial statement presenting the government's proposed revenues, spending, and priorities for a fiscal year.