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School Duke Michigan State Marquette Kentucky Syracuse Arkansas Connecticut Texas Texas A & M North Carolina Florida Iowa Tennessee Memphis

Need help with a managerial statistics question. The data for the question is attached in an Excel file.

3.48 College basketball is big business, with coaches’ salaries, revenues, and expenses in the millions of dollars.

a) Compute the covariance.
b) Compute the coefficient of correlation.
c) Based on (a) and (b), what conclusions can you reach about the relationship between a coaches’ salaries and revenues?
School Salary Expenses Revenues Winning% Duke 1.40 7.40 12.40 90.00 Michigan State 1.60 6.30 11.00 67.74 Marquette 1.10 5.80 5.80 66.67 Kentucky 1.90 5.60 12.90 64.52 Syracuse 0.38 5.60 12.40 65.63 Arkansas 0.80 5.60 11.10 72.41 Connecticut 1.50 5.50 7.90 90.00 Texas 1.30 5.10 12.00 83.33 Texas A & M 0.63 4.90 6.50 74.07 North Carolina 1.40 4.80 15.00 77.78 Florida 1.70 4.60 6.50 80.00 Iowa 0.80 4.50 10.50 73.33 Tennessee 0.80 4.50 5.40 77.78 Memphis 1.20 4.50 5.60 90.32 Kansas 1.00 4.30 11.80 75.86 Oklahoma 1.00 4.10 6.20 74.07 Ohio State 0.83 4.10 11.40 85.19 Arizona 0.70 4.10 16.60 63.33 Indiana 0.78 3.80 11.90 62.96 Wisconsin 0.70 3.80 12.00 65.52 Alabama 1.00 3.70 6.50 60.72 UCLA 0.91 3.70 7.10 80.65 Washington 0.89 3.20 5.00 82.76 Illinois 0.70 3.20 11.30 83.33 Pittsburgh 0.49 3.20 7.80 79.31 California 0.85 3.10 6.00 67.86 West Virginia 0.70 3.10 4.90 66.67 Florida State 0.74 2.90 6.80 67.86 San Diego State 0.36 2.60 2.60 73.33 Villanova 0.51 2.60 4.20 89.29 Boston College 0.53 2.50 3.40 80.00 North Carolina State 0.90 2.40 11.40 72.41 LSU 0.72 2.20 4.60 75.86 UAB 0.60 2.10 1.90 82.14 Wichita State 0.41 2.00 3.10 75.00 Nevada 0.26 1.70 3.30 83.33 Gonzaga 0.50 1.60 2.50 90.00 Southern Illinois 0.21 1.30 1.20 68.75 Northern Iowa 0.18 1.20 1.20 71.88 Montana 0.12 1.10 1.30 79.31 Delaware State 0.19 0.91 0.91 61.29 UNC Wilmington 0.17 0.90 0.44 78.13 Albany 0.11 0.78 0.16 66.67 Winthrop 0.20 0.74 0.52 76.67 Northwestern State 0.76 0.47 0.35 77.42
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Statistics and Probability-8091157.doc

Need help with a managerial statistics question. The data for the question is attached in an Excel file.
3.48 College basketball is big business, with coaches’ salaries, revenues, and expenses in...

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