The covariance between two random variables is the correlation ...

[xclash]

The covariance between two random variables is the correlation between the two variables divided by the product of their standard deviations.
 
  Indicate whether the statement is true or false

Question 2

Explain the difference between the terms variable and data. Include an illustration that demonstrates this difference.
 
  What will be an ideal response?

[recede]

Answer to Question 1

FALSE

Answer to Question 2

Variable: a characteristic of interest about each individual element of a population or a sample
Data: refer to the value or values of the variable of interest
Illustration: The age of a person when he/she first attends a professional sporting event would be the characteristic of interest about each person and is a variable. Jim was 17 when he first attended a professional sporting event; 17 is the value of the variable for Jim and is data.

[xclash]

Excellent

[tranoy]

TYSM