You want to find out whether there is an association between the quantity of customer purchases (

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You want to find out whether there is an association between the quantity of customer purchases ( y) and customer income € (x). For 715 customers, you calculate a covariance between income and purchase quantity of SXY = 2.4 for 715.

(a) What does covariance tell us about trait association?

(b) Calculate Pearson’s correlation coefficient assuming that:

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Applied Statistics And Multivariate Data Analysis For Business And Economics

ISBN: 9783030177669

1st Edition

Authors: Thomas Cleff

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Question Posted: Dec 08, 2023 01:47 AM

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You want to find out whether there is an association between the quantity of customer purchases (

Question:

n n (x₁ - x)² = 22,500 and (y₁ - y)² = 17,000 i=1 i=1

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a The covariance only gives ...View the full answer

Applied Statistics And Multivariate Data Analysis For Business And Economics

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