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

Harmonic mean, The Harmonic Mean is based on the reciprocals of numbers ave...

The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th

Sample standard deviation, Sample Standard Deviation So far, we discu...

Sample Standard Deviation So far, we discussed the population standard deviation. Now, let us switch to sample standard deviation(s) that is analogous to the population stand

Advantages of mode, Advantages By definition, mode is the most typic...

Advantages By definition, mode is the most typical or representative value of a distribution. Hence, when we talk of modal wage, modal size of shoe or modal size of family i

Keno, Having 11 numbered balls -0 to 10 -into a basket and have 6 spaces t...

Having 11 numbered balls -0 to 10 -into a basket and have 6 spaces to be numbered with the balls selected in each 6 chances and it returned it back to the basket each time. Chanc

Kurtosis and skew, how to interpret results, a good explanation to help me ...

how to interpret results, a good explanation to help me understand.

Dominant strategy equilibrium, Consider the following game: (a) If ...

Consider the following game: (a) If (top, left) is a Weakly Dominant Strategy Equilibrium, then what inequalities must hold among (a, ..., h)? (b) If (top, left) is a Na

Find the probability customers pay their bill in full, The proportion of Am...

The proportion of American Express credit-card holders who pay their credit card bill in full each month is 23%; the other 77% make only a partial or no payment. (a) In a random

Simple regression analysis, Construct your initial multivariate model by se...

Construct your initial multivariate model by selecting a dependent variable Y and two independent variables X. Clearly define what each variable represents and how this relates t

Data project, Dr. Jim Mirabella UNIT EIGHT: DATA ANALYSIS PROJECT All Excel...

Dr. Jim Mirabella UNIT EIGHT: DATA ANALYSIS PROJECT All Excel output should be copied into a single Word document where you must enter all of your responses to the questions below.

Determine market interest rate, The interest rate on the three year loan is...

The interest rate on the three year loan is 0.087. Whereas the interest rate on the two year loan is 0.085 as given in A. Suppose that the liquidity premium at t=1 is 0.002 and tha

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