The following data represent the daily demand (y in thousands of units) and the unit price (x in dollars) for a product.

Daily Demand (y)

Unit Price (x)

47

1

39

3

35

5

44

3

34

6

20

8

15

16

30

6

a. What is the median of the sample data collected for unit price?

b.What is the mode of the sample data collected for unit price?

c.What is the interquartile range of the sample data collected for unit price?________________________________________________________________________

d. What is the standard deviation of the sample data collected for unit price?

e. What is the skewness of the sample data collected for unit price? Interpret its meaning.

_______________________________

f. Is there any outlier in the sample data collected for both variables daily demand and unit price? Why?

_________________

g. Compute and interpret the sample covariance between daily demand and unit price.

______________________________

h. Compute the sample correlation coefficient between daily demand and unit price. What does this value tell us about the relationship between daily demand and unit price?