Each year the employees at Zipco receive a $0, $2000, or $4500 salary increase They also receive a merit rating of 0, 1, 2, or 3, with 3 indicating outstanding performance and 0 indicating poor performance The joint probability distribution of salary increase and merit rating is listed in the file S04 67 xlsx For example, 20 of all employees receive a $2000 increase and have a merit rating of 1 Find the correlation between salary increase and merit rating Then interpret this correlation

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Question: Each year the employees at Zipco receive a $0, $2000, or $4500 salary increase. They also receive a merit rating of 0, 1, 2, or

Each year the employees at Zipco receive a $0, $2000, or $4500 salary increase. They also receive a merit rating of 0, 1, 2, or 3, with 3 indicating outstanding performance and 0 indicating poor performance. The joint probability of salary increase and merit rating is listed in the file S04_67.xlsx. For example, 20% of all employees receive a $2000 increase and have a merit rating of 1. Find the correlation between salary increase and merit rating. Then interpret this correlation.

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