In: Math
Econ 2310
Business Statistics: Problem Set #1
Instructions: You may use Excel and/or a calculator to complete this assignment. Please show work or reference what Excel commands you used to solve the problems.
Income |
FICO |
39 |
625 |
27 |
600 |
57 |
710 |
31 |
595 |
34 |
610 |
50 |
840 |
38 |
726 |
62 |
710 |
43 |
635 |
49 |
560 |
X |
Frequency |
2 |
20% |
5 |
10% |
8 |
15% |
10 |
30% |
12 |
25% |
A. Find the covariance and the correlation coefficient.
X | Y* | X*Y | X^2 | Y^2 | |
39 | 625 | 24375 | 1521 | 390625 | |
27 | 600 | 16200 | 729 | 360000 | |
57 | 710 | 40470 | 3249 | 504100 | |
31 | 595 | 18445 | 961 | 354025 | |
34 | 610 | 20740 | 1156 | 372100 | |
50 | 840 | 42000 | 2500 | 705600 | |
38 | 726 | 27588 | 1444 | 527076 | |
62 | 710 | 44020 | 3844 | 504100 | |
43 | 635 | 27305 | 1849 | 403225 | |
49 | 560 | 27440 | 2401 | 313600 | |
Sum = | 430 | 6611 | 288583 | 19654 | 4434451 |
Credit Score increases with income.