demand (y in thousands of units) and the unit price (x in dollars) for a product. Daily Demand (y) Unit Price (x) 46 1 38 3 34 5 43 3 33 6 19 8 14 16 29 6 (a) Compute the sample covariance for the above data. (b) Compute the sample correlation coefficient. (Round your answer to three decimal places.)
demand (y in thousands of units) and the unit price (x in dollars) for a product. Daily Demand (y) Unit Price (x) 46 1 38 3 34 5 43 3 33 6 19 8 14 16 29 6 (a) Compute the sample covariance for the above data. (b) Compute the sample correlation coefficient. (Round your answer to three decimal places.)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question
The following data represent the daily demand (y in thousands of units) and the unit price (x in dollars) for a product.
| Daily Demand (y) | Unit Price (x) |
|---|---|
| 46 | 1 |
| 38 | 3 |
| 34 | 5 |
| 43 | 3 |
| 33 | 6 |
| 19 | 8 |
| 14 | 16 |
| 29 | 6 |
(a)
Compute the sample covariance for the above data.
(b)
Compute the sample correlation coefficient . (Round your answer to three decimal places.)
Expert Solution
Step 1
We have given that,
X :- 46, 38, 34, 43, 33, 19, 14, 29
Y:- 1, 3, 5, 3, 6, 8, 16, 6
Then,
We will find the sample Covariance and sample correlation (r) = ?
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