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Question
The following data represent the daily demand (yin thousands of units) and the unit price (xin dollars) for a product.| Daily Demand (y) | Unit Price (x) |
| 47 | 1 |
| 39 | 3 |
| 35 | 5 |
| 44 | 3 |
| 34 | 6 |
| 20 | 8 |
| 15 | 16 |
| 30 | 6 |
a. Compute and interpret the sample covariance for the above data.
b. Compute and interpret the sample correlation coefficient.
Answer
This answer is hidden. It contains 167 characters.
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