QUESTIONSamuel is a butchery vendor at a local open market. His daily income and the number of hours worked for the first ten days after the lockdown period is shown below:Day Income (N$) Number of hours 180062900836004412005514009620009714008890069130071014008 REQUIRED TO;determine whether it is the data time series or cross sectional? Motivate the reason.Calculate and interpret the following descriptive measures for the random variable Income: MeanMedianMode33rd percentileInterquartile range 3. Calculate and interpret the covariance between the random variables Income and Number of hours worked. 4. Calculate and interpret the correlation coefficient between the random variables Incomeand Number of hours worked.

Answered: Samuel is a butchery vendor at a local…

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

Samuel is a butchery vendor at a local open market. His daily income and the number of hours worked for the first ten days after the lockdown period is shown below:

*Day*	*Income (N$)*	*Number of hours*
1	800	6
2	900	8
3	600	4
4	1200	5
5	1400	9
6	2000	9
7	1400	8
8	900	6
9	1300	7
10	1400	8

REQUIRED TO;

determine whether it is the data time series or cross sectional? Motivate the reason.
Calculate and interpret the following descriptive measures for the random variable Income:

Mean
Median
Mode
33^rd percentile
Interquartile range

3. Calculate and interpret the covariance between the random variables Income and Number

of hours worked.

4. Calculate and interpret the correlation coefficient between the random variables Income

and Number of hours worked.

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