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The following table shows the monthly adverting expenditure and sales revenue of a company. You are required to estimate the covariance and correlation coefficient and

  1. The following table shows the monthly adverting expenditure and sales revenue of a company. You are required to estimate the covariance and correlation coefficient and explain what do these statistics tell you about the relationship between two variables and advice the company.
Sales revenue ($M) 9.6 11.3 12.5 9.5 8.5 12 11.4 12.5 13.8 14.6
Advertising expenditure ($000) 23 40 55 54 28 25 31 36 88 90

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