The manager of a used-car dealership is very interested in the resale price of used cars. The manager feels that the age of the car is important in determining the resale value. He collects data on the value of the car (in thousands of dollars) as the dependent variable and the age of the car (in years) as the independent variable.

a. Compute the covariance.
b. Compute the correlation coefficient.

Transcribed Image Text:

Age 3578 11 Value (Thousands of €) 50 43 35 40 15