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3 cards from this section. Quick, good the night before a test.
What does a covariance of 0 indicate about the relationship between two variables?
Think about relationships in terms of direction.
Define correlation in your own words.
Recall that it ranges from -1 to 1.
What is the range of values for the correlation coefficient?
Recall the properties of correlation.
True or False: A covariance of 5 indicates a strong positive relationship between two variables.
Think about what covariance actually tells us.
You have two datasets of daily temperatures and ice cream sales. The temperature dataset is X = {70, 75, 80, 85} and the sales dataset is Y = {200, 220, 240, 260}. Calculate the covariance and correlation. Discuss what this indicates about the relationship.
Follow the steps of calculating means and then apply covariance and correlation formulas.
Create a scenario where two variables might show high covariance but low correlation. Explain the conditions.
Think about how outliers can affect linear relationships.
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