Many university admission committees use the GMAT score as one of the critical indicators of how well a student is likely to perform in an MBA program. However, the GMAT might not be a very strong...

Many university admission committees use the GMAT score as one of the critical indicators of how well a student is likely to perform in an MBA program.  However, the GMAT might not be a very strong indicator for all MBA programs.  Suppose that an MBA program designed for middle managers who wish to upgrade their skills was launched 3 years ago.  To judge how well the GMAT scores predict MBA performance, a sample of 12 graduates was taken.  Their GPA in the MBA program (values 0 to 12) and their GMAT scores (values ranging from 200 to 800) are listed below.  Compare the covariance and the correlation coefficient.  Interpret your findings.