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3 cards from this section. Quick, good the night before a test.
What does a positive covariance indicate?
Remember the direction of change in variables.
What is the range of possible correlation values?
Think about the extremes of relationships.
What does a correlation coefficient of 1 mean?
Think about how correlation ranges from -1 to 1.
Covariance can have which values?
Consider what varies between the variables.
Given datasets C = {10, 20, 30, 40} and D = {15, 25, 35, 50}, calculate the covariance and explain its significance.
Calculate means first and use the formula for covariance.
For the datasets E = {1, 0, 0, 1} and F = {0, 1, 1, 0}, find the covariance. Discuss how this reflects their relationship.
Pay attention to how one dataset responds to the other.
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