The following data represent the daily demand (y in thousands of units)and the unit price (x in dollars)for a product.
a.Compute and interpret the sample covariance for the above data.
b.Compute and interpret the sample correlation coefficient.
Definitions:
Dependent Variable
The variable in an experimental study that is expected to change or respond as a result of manipulations of the independent variable.
APA Format
A set of guidelines for writing and formatting research papers and reports, established by the American Psychological Association.
N.s.
Not significant; often used in statistical analysis to denote that the results do not reach a level of statistical significance.
Within-Subjects Research Design
A study design where the same group of subjects is exposed to all different treatment conditions, allowing comparisons of the effects within the same individuals.
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