1.a
Summary statistics of UECHANGE
Column1
Mean
-0.019148936
Standard Error
0.130877572
Median
-0.2
Mode
-0.5
Standard Deviation
0.89725143
Sample Variance
0.80506013
Kurtosis
1.83795692
Skewness
0.989218085
Range
5
Minimum
-2.1
Maximum
2.9
Sum
-0.9
Count
47
Confidence Level(95.0%)
0.263442885
VALUE
APPROXIMATE EXCEL FORMULA
The maximum value undertaken by UECHANGE is 2.9, occuring in 1975. It might be due to
the recession happened in the mid-1970s.
1.b
Covariance of UECHANGE and GDPGROWTH
-1.49711
(n/(1-n)) * COVAR(UECHANGE,GDPGROWTH)
1.c
Correlation of UECHANGE and GDPGROWTH
-0.82927
It implies a negative association between the two variables. We can not say strong
or weak of this association only from the number of covariance.
It implies a negative association between the two variables. The association is
strong. The benefit of correlation over covariance is that it is in common units,
allowing us to directly interpret the strength of the relationship.

This
** preview**
has intentionally

**sections.**

*blurred***to view the full version.**

*Sign up*