Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following data contains coaches' salaries and team revenues (in millions of dollars) for ten college basketball teams. Use this data to complete parts (a)
The following data contains coaches' salaries and team revenues (in millions of dollars) for ten college basketball teams. Use this data to complete parts (a) through (c). Salary Revenue 1.1 4.9 0.2 2.0 0.3 2.2 1.8 18.4 1.9 9.2 0.4 4.6 1.2 12.8 0.9 14.2 1.3 11.6 1.7 7.9 a. Compute the covariance. (Round to three decimal places as needed.) b. Compute the coefficient of correlation. (Round to three decimal places as needed.) c. What conclusions can you reach about the relationship between a coach's salary and revenue? A. There is a moderate positive relationship between a coach's salary and revenue. As a coach's salary increases, revenue tends to increase. B. There is no relationship between a coach's salary and revenue. C. There is a slight relationship between a coach's salary and revenue. Increases in a coach's salary cause increases in revenue. D. There is a strong positive relationship between a coach's salary and revenue. As a coach's salary increases, revenue always increases
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started