How can the sample covariance be used to estimate the covariance of random variables?
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.2: Expected Value And Variance Of Continuous Random Variables
Problem 9E
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How can the sample
Expert Solution
Step 1
The covariance is used to measure the relationship between two random variables, that is, to what extent the variables are changing together.
When both the variables tend to move in the same direction, it is known as positive covariance.
When both the variables tend to move in the opposite direction, it is known as negative covariance.
Step 2
The formula for covariance of random variables, that is, population covariance is,
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