Below is a table of average gold prices for each of six years, along with annual sales

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Below is a table of average gold prices for each of six years, along with annual sales of prospecting equipment in Fairbanks, Alaska.

a. Compute the covariance.
b. Compute the correlation coefficient and indicate what conclusions can be drawn.

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Understanding Business Statistics

ISBN: 978-1118145258

1st edition

Authors: Stacey Jones, Tim Bergquist, Ned Freed

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Question Posted: Jul 16, 2015 03:54 PM

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Below is a table of average gold prices for each of six years, along with annual sales

Question:

2005 2006 2007 2008 2009 2010 Gold Price (S/ounce)* 445 603 696 872 972 1224 Equipment Sales ($000) 500 680 841 733 866 820

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a x 802 y 740 xy 236...View the full answer

Understanding Business Statistics

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