Correlation - correlation & regression analysis, Operation Research

Assignment Help:

CORRELATION

Correlation is  the study of the  liner relationship  between  two variable when there is a  relationship of quantitative measures between two set  of variable  the appropriate statistical tool for measuring the relationship and expressing each in a precise way is known  as correlation. For  example  there is a relationship  between  the  heights and  weights of persons demand  and prices of  commodities etc.

According  to W.I. King Correlation  means  that between  two series or groups  of data  there exists  some  relationship  connections.

According to croxton and Cowden" The appropriate statistical   tool for  discovering and  measuring  the relationship of quantitative nature and expressing it in   brief  formula is known as correlation.

The coefficient  of correlation measures the degree  of relationship  between  two set  of figures. As  the reliability  of estimates depend upon the  closeness  of the relationship it is imperative that  utmost care be taken  while  interpreting the value of coefficient of correlation  otherwise fallacious conclusion can  be draw.

 

 


Related Discussions:- Correlation - correlation & regression analysis

Replacement theory.., a pipe lis dur for rpair,the repair would cost 10000 ...

a pipe lis dur for rpair,the repair would cost 10000 and it would last for 3 years.alternatively a new pipe line can be purchase at 30000 for 10 years.assuming 10% depriciation rat

Linear proramming , A paper mill produces two grades of paper viz., X and Y...

A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i

Solve lpp question graphically, A producer of furniture manufactures two pr...

A producer of furniture manufactures two products - tables and chairs. Processing of these products is done on two machines A and B. A chair needs 2 hours on machine A and 6 hours

Summary report - report writing presentation, Summary  Report The  r...

Summary  Report The  report  format  suggested  above  does  not  contain  any  summary  section. This exclusion  is deliberate. The summary  should  not be  prepared until t

Scientific methods, Royce A. Singleton and Bruce C. Straits have said tha...

Royce A. Singleton and Bruce C. Straits have said that scientific social research consists of the process of formulating and seeking answers to question about the social wor

Operations research, What are artificial variable why do you need them

What are artificial variable why do you need them

Line balancing, what happen if line balancing does not exist

what happen if line balancing does not exist

Case study and statistical methods, Case Study Methods: It is studying the...

Case Study Methods: It is studying the phenomenon event situation or development through a thorough and detailed analysis or intensive study. The case may be an individual a gr

Quality circles, advantage of quality circle process

advantage of quality circle process

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