Eight Observations Taken for Two Variables Are as Follows

question 38

Essay

Eight observations taken for two variables are as follows:

a. Develop a scatter diagram with x on the horizontal axis.
b. What does the scatter diagram developed in part a indicate about the relationship between the two variables?
c. Compute and interpret the sample covariance.
d. Compute and interpret the sample correlation coefficient.

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Definitions:

One Market

A term referring to a single, integrated market where goods, services, capital, and people can move freely without barriers.