Question

In: Statistics and Probability

Fast Service Store has maintained daily sales records on its two most popular products: the Jumbo...

Fast Service Store has maintained daily sales records on its two most popular products: the Jumbo Cool Drink and the Jumbo Warm Sandwich.

Probability

Jumbo Cool Drink Sales

Jumbo Warm Sandwich Sales

.15

75

20

.20

120

35

.05

125

30

.20

80

25

.30

90

15

.10

65

10

Using the information above, determine:

  1. the covariance of the probability of selling the two products.
  2. The correlation between the probabilities
  3. What does this tell you?

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