7. Use GRETL to obtain the correlation matrix between the two variables of RST and TOTWRK. Thereafter:

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 descriptive statistics from GRETL, to find the covariance between RST & TOTWRK (show your calculations).

d. Use the value reported in the correlation matrix in (7.a) above, to confirm the value of the coefficient of determination for the model obtained in Part (1) above. Does the calculated value of this coefficient match with the value in Part (3) above?