Question

For a bivariate analysis involving the two variables X and Y, if ∑(x−xˉ)(y−yˉ​)=−93,n=54,sx​=4.86 and sy​=3.57, calculate the covariance, Cov(X,Y). Note: 1- Round intermediate numbers to 3 decimal places. 2- Round your final answer to 2 decimal places and report it with 2 decimal places.

Answer 1

The covariance, Cov(X,Y), for the given bivariate analysis is calculated using the sum of the products of the deviations of X and Y from their means, number of data points, and rounded to two decimal places, resulting in -1.75.

Step-by-step explanation:

To calculate the covariance, Cov(X,Y), for the given bivariate analysis involving variables X and Y, you can use the provided sum of the products of the deviations of X and Y from their respective means, ∑(x−ˉx)(y−ˉy), which is given as -93, and the number of data points, n, which is 54. The formula for covariance is:

Cov(X,Y) = ∑(x−ˉx)(y−ˉy) / (n - 1)

Plugging the given values into this formula, we get:

Cov(X,Y) = (-93) / (54 - 1) = (-93) / 53 = -1.7547

When rounded to two decimal places, the covariance Cov(X,Y) is -1.75.