Book 6 - Sample Exam 1 PM, Question 79 The solution uses n-1 as denominator to calculate covariance and standard deviation but according to reading 53 in the Schweser notes we are supposed to use n as denominator in this case not n-1. Am I wrong? Are we dealing with a sample or a population in this question? Thanks!

You are deaing with a sample in this question, as denoted by the “12” over the sigma sign. So it’s 12 months worth of a data, a sample. So you use 11 as denominator.

population = n sample = n-1 read the text carefully…