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

## Question:

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:

(c) Explain the association between the traits based on the calculated correlation coefficient.

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**Related Book For**

## Applied Statistics And Multivariate Data Analysis For Business And Economics

**ISBN:** 9783030177669

1st Edition

**Authors:** Thomas Cleff