Bivariate Data & Probability Question 1 Covariance and Correlation coefficient The table below shows a set of bivariate data: X and Y. Calculate the covariance and correlation coefficient by...

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Answered Same DayDec 26, 2021

Answer To: Bivariate Data & Probability Question 1 Covariance and Correlation coefficient The table below shows...

David answered on Dec 26 2021
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Take Home Assignment 2
Bivariate Data & Probability
Question 1
Covariance and Co
rrelation coefficient
The table below shows a set of bivariate data: X and Y.
(a) Calculate the covariance and correlation coefficient by completing the table, assuming sample data. Show all workings. (Note: You can calculate the mean and standard deviation of X & Y with the STAT mode in your calculator and no working is required.)
    X
    Y
    (X - X bar)
    (Y - Y bar)
    (X - X bar)(Y - Y bar)
    1
    10
    
    
    
    3
    8
    
    
    
    6
    5
    
    
    
    7
    4
    
    
    
    8
    3
    
    
    
(b)
Comment on the strength of the linear association between X and Y.
(4 marks)
Solution:
a.
    X
    Y
    (X - X bar)
    (Y - Y bar)
    (X - X bar)(Y - Y bar)
    1
    10
    -4
    4
    -16
    3
    8
    -2
    2
    -4
    6
    5
    1
    -1
    -1
    7
    4
    2
    -2
    -4
    8
    3
    3
    -3
    -9
    ∑ = 25
    30
    0
    0
    -34
Mean of X = 25/5 = 5
Mean of Y = 30/5 = 6
Covariance = ∑(X - X bar)(Y - Y bar)/(n – 1)
Covariance = -34/4
Covariance = -8.5
SDx = √∑(X –...
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