Correlation, Applied Statistics

Assignment Help:

Correlation

The correlation is commonly used and a useful statistic used to describe the degree of the relationships between two or more variables. Pearson's correlation reflects the degree of linear relationship between X variables which are independent and a Y variable which is independent and it ranges from positive 1 to negative 1 (+1 to -1). Below are statistics I have managed to gather which shows the relationship between the variables of wfood,  totexp, income, age, nk.

The Null Hypothesis - H0: Correlation has risen by chance i.e. r = 0

The Alternative Hypothesis - H1: Correlation has not risen by chance i.e. r ≠ 0

*Exception: Reject H0 when P-value ≤ α = 0.05

Correlations: wfood, totexp, income, age, nk

                wfood       totexp  income     age

 totexp    -0.479       0.000

income   -0.235        0.449   

               0.000        0.000

age         0.021        0.189     0.218         

               0.405        0.000     0.000

nk           0.102        0.071     0.025   0.008         

               0.000        0.005     0.322   0.753

Cell Contents: Pearson correlation      

                       P-Value


Related Discussions:- Correlation

Linear regression, Linear Regression Generally, in two mutually related...

Linear Regression Generally, in two mutually related statistical series, the regression analysis based on graphic method. Under graphic method the values  of X and Y variable

Test for equality of two means, Let X 1  and X 2  be two independent po...

Let X 1  and X 2  be two independent populations with population means μ 1  and  μ 2  respectively. Two samples are taken, one from each population, of sizes n 1  and n 2  re

Optimal number of cluster, Try different numbers of clusters in your progra...

Try different numbers of clusters in your program (K=2...15) and build a plot that shows the dependency between number K and value of RSS function on the last iteration. What is th

Number of principal components, While there are p original variables the n...

While there are p original variables the number of principal components is m such that m

Statistical procedures - estimation of a mean, Old Faithful Geyser in Yello...

Old Faithful Geyser in Yellowstone National Park derives its names and fame from the regularity (and beauty) of its eruptions. Rangers usually post the predicted times of eruptions

Option price binomial tree, Modify your formulas from (1) to compute the pr...

Modify your formulas from (1) to compute the price at time 0 of an American put option with the same contract speci cations in the binomial model. Report the price of the American

Variance, Variance The term variance was used to describe the square of...

Variance The term variance was used to describe the square of the standard deviation by R.A.Fisher. The concept of variance is highly important in areas where it is possible to

Calculate the current ratio and quick ratio, You were recently hired by E&T...

You were recently hired by E&T Boats, Inc. to assist the company with its financial planning and to evaluate the company's performance.  E&T Boats, Inc. builds and sells boats to o

Advantages of median, Advantages It is especially useful in c...

Advantages It is especially useful in case of open-end classes since only the position and not the values of items must be known. The median is also recommended if th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd