Explanation
The covariance between two random variables X and Y is calculated using the formula:
Cov[X,Y]=E[XY]βE[X]E[Y]
Given:
- E[X] = 3
- E[Y] = 4
- E[XY] = 11
Cov[X,Y]=11β(3Γ4)
Cov[X,Y]=11β12
Cov[X,Y]=β1
Therefore, the covariance is -1, which corresponds to option A.