# Question: The following data give X the price charged for a

The following data give X, the price charged for a particular item, and Y, the quantity of that item sold (in thousands):

Price per Piece (X) Hundreds of Pieces Sold (Y)

$5 ............... 55

6 ................ 53

7 ................ 45

8 ................ 40

9 ................ 20

a. Compute the covariance.

b. Compute the correlation coefficient.

Price per Piece (X) Hundreds of Pieces Sold (Y)

$5 ............... 55

6 ................ 53

7 ................ 45

8 ................ 40

9 ................ 20

a. Compute the covariance.

b. Compute the correlation coefficient.

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