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:
SLII Model
A leadership model that proposes different leadership styles should be used depending on the situation and maturity level of the followers.
Developmental Level
The stage of growth or advancement in a particular area, such as personal, social, or cognitive development.
D3 Subordinates
Refers to a categorization in situational leadership models highlighting subordinates who have competence in their tasks but vary in their commitment or motivation.
Skilled
Possessing the abilities, knowledge, and expertise necessary to perform a particular task or job competently.
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