Suppose a researcher is interested in predicting income (in hundreds per month) based on the amount of the number of college units someone has completed. Data collected from 5 working college students is shown below. Be sure to label your answers with the appropriate letter and show all your work (each mathematical step) for each answer. Units Income in hundreds (X) (Y) 50 35 30 40 50 80 70 65 10 15 a) Calculate the covariance between the two variables. b) Calculate the standard deviation of the X and Y variables. c) Calculate and INTERPRET the correlation between the variables. d) Calculate and INTERPRET the slope and y-intercept. Report the complete regression/prediction equation. e) If a new person has 60 units, what would you predict their income level to be? HINT: You need to use the regression equation to answer this