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.
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