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Financial reporting is typically much more detailed than managerial accounting.
Cov (x,y)
Represents the covariance between two variables \(x\) and \(y\), measuring how changes in one variable are associated with changes in another.
Covariance
A statistical measure that indicates the extent to which two variables change together; if the greater values of one variable mainly correspond with the greater values of the other variable, and the same holds for the lesser values, the covariance is positive.
Slope
A measure of the steepness or incline of a line, representing the ratio of the change in the y-value to the change in the x-value.
Coefficient of Correlation
A statistical measure that computes the strength and direction of a linear relationship between two variables.
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