Essay
Consider the following data on income and savings of a sample of residents in a locality:
a. Compute the correlation coefficient. Is there a positive correlation between the income and savings? What is your interpretation?
b. Show a scatter diagram of the relationship between the income and savings.
Correct Answer:
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a.
\[
s_{x y}=\frac{\sum\left(x_{i}-\ ...View Answer
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Correct Answer:
Verified
\[
s_{x y}=\frac{\sum\left(x_{i}-\ ...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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