2.40 The following data give X, the price charged for a particular item, and Y, the quantity...

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2.40 The following data give X, the price charged for a particular item, and Y, the quantity of that item sold (in thousands):

Price per Piece (X) Hundreds of Pieces Sold (Y)

$5 55 6 53 7 45 8 40 9 20

a. Compute the covariance.

b. Compute the correlation coefficient.

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