Question: 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

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

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

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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