Question: 7. Use GRETL to obtain the correlation matrix between the two variables of RST and TOTWRK. a. Copy the correlation matrix you obtained using GRETL

7. Use GRETL to obtain the correlation matrix between the two variables of RST and TOTWRK. a. Copy the correlation matrix you obtained using GRETL and paste it in your assignment work. b. Based on the results of the correlation matrix you obtained in (7.a), what is the nature of the relationship among the two variables? What can you judge about the extent of such relationship? c. Since the correlation matrix you obtained (using GRETL) does not include the value of the covariance, use the results you have obtained in here, in conjunction with any relative GRETL descriptive statistics, to find the covariance between RST & TOTWRK (show your calculations). d. Use the value reported in the correlation matrix to confirm the value of the coefficient of determination for the model obtained in Part (1) (GRETL map below). Does the calculated value of thiscoefficient match with the value in Part (3) (0.103287 or 10.33%)?

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