The following data contains coaches' salaries and team revenues (in millions of dollars) for ten college...
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: 1.1 0.2 1.5 0.4 0.9 1.3 1.4 1.2 0.8 0.3
Revenue : 16.2 2.4 16.4 5.5 3.7 6.2 18.5 14.1 12.5 3.9
a. compute the covariance (round to three decimal places as needed)
b. . Compute the coefficient of correlation.
c. What conclusions can you reach about the relationship between a coach's salary and revenue?
Homework Answers
| Salary | Revenue |
| 1.10 | 16.2 |
| 0.2 | 2.4 |
| 1.5 | 16.4 |
| 0.4 | 5.5 |
| 0.9 | 3.7 |
| 1.3 | 6.2 |
| 1.4 | 18.5 |
| 1.2 | 14.1 |
| 0.8 | 12.5 |
| 0.30 | 3.9 |
| Covariance | 2.0026 |
| Coefficient of correlation | 0.7617 |
| b) D. There is a moderate positive relationship between a coach's salary and revenue. As a coach's salary increases revenue tends to increase. A positive correlation indicates that as one variable rises, the other variable also tends to rise. |
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