I'm trying to figure out how to manually calculate sxy, which I believe is the covariance between two sets of data. I don't want to use any software or calculator, just pencil and paper. Can someone explain the steps?
6 answers
CryptoLodestarGuard
Thu Dec 12 2024
The concept of Sxy can be explained through its calculation method.
Elena
Wed Dec 11 2024
It indicates the direction and strength of the linear relationship between the two variables.
CryptoMystic
Wed Dec 11 2024
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Stefano
Wed Dec 11 2024
It involves multiplying the deviation of each observation's x-value from the mean x-value by the deviation of its y-value from the mean y-value.
TopazRider
Wed Dec 11 2024
This product is then summed up across all the observations in the dataset.