If you are throwing two die at same time, they are two independent variables hence the covariance is 0Review LaterTrueFalse

The covariance between two variables is(a) Strictly positive(b) Strictly negative(c) Always 0(d) Either positive or negative or zero

If X and Y are independent random variables, then what is the covariance between them?Review LaterCov(X,Y) = 1Cov(X,Y) = 0Cov(X,Y) = -1It cannot be determined without additional information.

Recall from the previous quiz the random variables X and Y with joint probability distributionY=0 Y = 1X = 0 0.4 0.1X = 1 0.3 0.2The covariance between X and Y is

Cov(X, Y ) = E[XY ] − E[X]E[Y ]

What is the relationship between the covariance and the correlation coefficient