The covariance can be thought of as the sum of matches and mismatches among the pairs of data elements for x and y: a match occurs when both elements in the pair are on the same side of their mean; a mismatch occurs when one element in the pair is above its mean and the other is below its mean.
Observation: Just as we saw for the variance in Measures of Variability, the covariance can be calculated as
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The covariance can be thought of as the sum of matches and mismatches among the pairs of data elements for x and y: a match occurs when both elements in the pair are on the same side of their mean; a mismatch occurs when one element in the pair is above its mean and the other is below its mean.
Observation: Just as we saw for the variance in Measures of Variability, the covariance can be calculated as
Step-by-step explanation: