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:
Bad Debts
Accounts receivable that are considered uncollectible and are written off as a loss.
General Operating Expenses
These are the day-to-day expenses necessary for the management and administration of a business, such as rent, utilities, and payroll.
Collections
The process of pursuing payment on debts owed by individuals or businesses, typically involving accounts receivable.
Credit Sales
Transactions where the buyer purchases goods or services on credit, agreeing to pay the seller at a later date, thus generating accounts receivable for the seller.
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