Asked by Alexis Oldham on May 07, 2024
Verified
Which of the following statements BEST illustrates the concept of covariance?
A) "The two sample mean are significantly different from each other."
B) "The decision was made to not reject the null hypothesis."
C) "People with above-average incomes own more TVs than the average consumer."
D) "There is no relationship between money and happiness."
Covariance
Extent to which two variables vary together such that they have shared variance.
Null Hypothesis
The premise in hypothesis testing that suggests there is no association or effect among the variables being tested.
- Understand the concept of covariance and its illustrative examples.
Verified Answer
GM
giovanna monis
May 10, 2024
Final Answer :
C
Explanation :
Covariance refers to the measure of how two variables change together. In this case, the statement "People with above-average incomes own more TVs than the average consumer" illustrates the concept of covariance, as it shows a relationship between two variables (income and TV ownership). The other statements do not relate to covariance.
Learning Objectives
- Understand the concept of covariance and its illustrative examples.
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