8.A sample covariance of two random variables is most commonly utilized to:

A)   identify and measure strong nonlinear relationships between the two variables.

B)   estimate the “pure” measure of the tendency of two variables to move together over a period of time.

C)   calculate the correlation coefficient, which is a measure of the strength of their linear relationship.

D)   demonstrate either the presence or absence of spurious correlation of the variables.

The correct answer was C)

Since the actual value of a sample covariance can range from negative to positive infinity depending on the scale of the two variables, it is most commonly used to calculate a more useful measure, the correlation coefficient.