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5 cards from this section. Quick, good the night before a test.
What does a positive covariance indicate?
Think about how two variables can move together.
Is correlation a dimensionless value?
Consider the range of correlation values.
What is the range of values of correlation?
Think about how correlation is measured and the meaning of its extremes.
True or False: Covariance can be a negative number.
Recall how covariance describes variable interactions.
A dataset comprises the following observations for two variables: A = {10, 20, 30, 40} and B = {5, 10, 15, 20}. Calculate the covariance and the correlation between A and B.
Apply the covariance and correlation formulas carefully, ensuring to calculate means first.
How might covariance apply differently when analyzing stock returns of two companies versus analyzing temperature variation and ice cream sales?
Reflect on real-life implications of variable relationships.
6 more questions in this section. Enroll free to practise them all.
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