Question

1. Using Excel, estimate a correlation table and a covariance table for the variables; wtgain, feedeff, and frame. Put your results in the table below:

Covariance

Correlation

Please provide a general interpretation of the statistical information in the covariance and correlation tables. What is the relationship between the correlation and covariance values in the above table?

Data:

FRAME	QG	YG	calfvalue	feedeff	wtgain	TR	TC	profit
3.75	3.00	4.00	504.02	4.70	473.03	752.86	252.07	-3.23
3.54	3.00	4.00	680.59	5.55	515.89	932.45	258.96	-7.10
3.50	3.00	3.00	669.32	5.71	255.44	952.35	147.50	135.53
5.09	3.00	3.00	683.23	6.05	397.46	956.42	244.76	28.43
3.70	3.00	3.00	587.34	4.04	518.86	859.82	194.99	77.49
3.75	3.00	2.00	578.81	6.57	746.77	1125.91	481.06	66.05
4.00	3.00	3.00	712.94	5.52	378.19	906.55	190.85	2.77
4.45	3.00	3.00	623.35	5.71	416.40	851.50	224.03	4.12
5.96	3.00	3.00	699.25	6.00	435.47	964.78	244.00	21.53
6.73	2.00	3.00	678.28	6.03	604.45	1218.50	347.95	192.27
4.46	3.00	4.00	746.33	6.22	549.69	1065.60	325.68	-6.42
6.95	2.00	2.00	665.34	6.36	597.44	1127.61	386.91	75.36
5.10	3.00	4.00	716.05	5.98	361.49	955.66	225.96	13.64
4.20	3.00	3.00	646.17	5.12	405.01	885.87	192.89	46.81
5.89	2.00	3.00	664.19	5.70	531.44	1250.00	283.47	302.33
3.37	2.00	3.00	633.56	4.95	431.99	897.22	218.41	45.24
3.69	3.00	4.00	700.04	5.35	531.12	1010.98	298.76	12.18
3.86	3.00	2.00	648.84	5.30	410.52	947.41	233.77	64.80
4.03	3.00	4.00	694.52	6.22	232.47	825.48	183.40	-52.44
5.18	3.00	4.00	707.51	6.48	346.48	849.95	210.44	-68.00
4.27	2.00	3.00	660.74	5.71	329.43	1139.34	184.14	294.46
6.64	3.00	2.00	725.14	5.39	530.02	1214.78	264.53	225.11
4.18	3.00	2.00	661.38	5.51	599.67	1087.35	317.55	108.41
4.35	3.00	3.00	696.11	5.88	308.47	909.07	172.68	40.29
6.11	3.00	3.00	634.99	5.12	613.14	1080.29	294.91	150.40
4.92	3.00	3.00	689.91	5.22	381.49	936.23	183.83	62.48
3.92	3.00	2.00	631.99	4.37	511.93	927.93	225.57	70.37
6.24	2.00	3.00	709.08	5.52	634.24	1279.50	346.00	224.43
4.65	3.00	3.00	650.20	5.74	428.42	906.23	230.97	25.06
5.37	2.00	3.00	679.35	5.41	577.92	1129.38	303.83	146.21
6.84	2.00	3.00	721.12	5.56	459.08	1197.55	234.02	242.41
4.19	3.00	3.00	688.18	5.10	470.31	975.16	219.88	67.10
3.14	3.00	3.00	564.12	5.38	684.62	973.64	353.25	56.27
6.73	3.00	2.00	719.01	5.80	491.50	1105.38	264.58	121.78
6.00	3.00	3.00	694.31	5.40	494.43	1085.11	247.82	142.98
4.08	3.00	2.00	641.69	5.10	506.44	937.39	234.82	60.88
3.11	3.00	3.00	541.22	4.48	445.39	775.93	188.98	45.74
5.55	3.00	3.00	697.03	5.44	417.40	948.24	210.22	40.98
4.53	5.00	2.00	649.12	5.22	565.63	1097.62	285.38	163.11
4.34	3.00	3.00	671.90	4.72	486.60	956.81	227.45	57.45
2.92	3.00	3.00	564.12	4.92	429.62	769.81	226.64	-20.95
3.17	3.00	4.00	613.85	5.79	340.39	763.68	188.85	-39.02
2.76	3.00	2.00	603.34	4.86	410.03	886.02	204.73	77.95
4.27	2.00	2.00	597.18	5.04	479.54	1101.44	226.27	277.99
3.55	3.00	3.00	525.05	5.05	609.24	862.83	322.73	15.05
3.01	2.00	3.00	660.74	5.90	307.43	904.90	172.66	71.50
3.41	2.00	3.00	498.47	4.80	571.98	935.81	286.02	151.32
3.25	3.00	3.00	623.35	6.06	312.40	759.80	180.16	-43.71
3.74	3.00	3.00	613.30	5.01	519.14	929.22	240.65	75.27
3.55	3.00	2.00	628.83	4.68	532.30	977.91	227.60	121.48
3.69	3.00	3.00	619.87	5.22	481.21	892.59	261.90	10.82
2.80	3.00	2.00	606.76	5.57	260.38	770.12	142.54	20.82
4.20	3.00	3.00	623.98	5.40	415.40	1003.83	235.07	144.78
3.52	2.00	3.00	533.17	4.13	516.31	821.07	197.73	90.17
3.40	3.00	3.00	620.69	4.92	455.22	936.51	229.72	86.10
3.48	3.00	2.00	579.50	5.35	369.36	815.90	237.62	-1.22
3.74	3.00	3.00	520.51	4.74	557.19	794.02	274.44	-0.93
2.80	3.00	4.00	623.35	5.87	287.40	754.20	161.85	-31.00
6.92	3.00	2.00	703.92	5.91	524.48	1122.73	314.33	104.48
5.79	3.00	2.00	597.61	5.68	510.37	1027.66	286.84	143.22

Please state methods used to achieve answer.

Answer 1

The above table is the variance covariance matrix. Here wtgain shows greater variance.

The below table is the correlation matrix. In the table frame and feedeff shows positive correlation. Also frame and wtgain shows positive correlation. Here we can see that both these correlations are weak. Besides feedeff and wtgain shows negative correlation. This also a weak negative correlation.