Question: You have been provided with the following table for a sample of small economy (in billions of dollars): Year 2014 2015 2016 2017 2018 Income

You have been provided with the following table for a sample of small economy (in billions of dollars): Year 2014 2015 2016 2017 2018 Income (I) 50 70 90 110 130 Consumption (C) 50 60 80 105 115

Requirements. Answer the following questions:

Q1.What are the variances of income and consumption?

Q2.What is the covariance between income and consumption?

Q3.What is the correlation coefficient between income and consumption?

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