The Manager of a Movie Rental Store Was Interested in Examining

Short Answer

The manager of a movie rental store was interested in examining the relationship between the weekly take-home pay for a family and the amount that family spends weekly on recreational activities. The following output was generated using Minitab:
Covariances Let x = weekly take-home pay, and y = amount spent weekly on recreational activities.
a. Identify the covariance between x and y.
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b. Identify the variance of weekly take-home pay.
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c. Identify the variance of amount spent weekly on recreational activities.
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d. Calculate the correlation between weekly take-home pay and amount spent weekly on recreational activities.
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e. Interpret the correlation coefficient found in part (d).
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