In a Study of the Factors That Affect Success in Economics,data

question 67

Multiple Choice

In a study of the factors that affect success in economics,data were collected for 8 business students.Scores on a calculus placement test are given with economics final exam scores.The data are below: $\begin{array} { | l | l | } \hline \begin{array} { l } \text { Calculus } \\\text { Placement Score }\end{array} & \begin{array} { l } \text { Exam Final } \\\text { Score }\end{array} \\\hline 17 & 73 \\\hline 21 & 66 \\\hline 11 & 64 \\\hline 16 & 61 \\\hline 15 & 70 \\\hline 11 & 71 \\\hline 24 & 90 \\\hline 27 & 68 \\\hline\end{array}$
It can be shown that for these data: $\bar{X}=17.75, \quad \bar{y}=70.38, \quad \sum_{i=1}^{8}\left(x_{i}-\bar{x}\right) ^{2}=237.50$
$\sum_{i=1}^{8}\left(y_{i}-\bar{y}\right) ^{2}=545.875, \quad \sum_{i=1}^{8}\left(x_{i}-\bar{x}\right) \left(y_{i}-\bar{y}\right) =140.75$
Calculate the sample covariance.

• A)17.59
• B)7.93
• C)2.00
• D)33.93
• E)20.11

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Definitions:

Physical Surroundings

The environmental factors or conditions in a specific location that can affect individuals' behaviors, experiences, and interactions.

Market Leader

A company that has the largest market share in a given industry, dominating the competition in terms of sales, innovation, or brand recognition.

Low-involvement Product

A product that requires minimal thought and effort from the consumer prior to and during purchase.

Situational Influences

External factors that affect consumer behavior at the time of purchase, including physical environment, social settings, and time.