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

Effect of professional development on class management, Purpose: The pu...

Purpose: The purpose of this study is to explore the effect of professional development on teachers' Lesson Planning, Class Management, Teaching Methods, Cooperation and Teac

LPP, A paper mill produces two grades of paper viz., X and Y. Because of ra...

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

Dynamic programming, A company is planning its advertising strategy for the...

A company is planning its advertising strategy for the next year for its three major products.

Basis of scientific methods, The scientific methods is based on certain...

The scientific methods is based on certain article of path these are: 1. Reliance on Evidence: Truth is established on the basis of evidence. Conclusion is admitted onl

Determine the best age at which to replace the machine, Question: Machi...

Question: Machine A costs Rs. 9000. Annual operating costs are Rs. 200 for the first year, and then increase by Rs. 2000 every year. Suppose that the machine has no resale valu

Applications of statistics in management, In a business, statis...

In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research

Sequencing, how the sequencing techniques help the manager

how the sequencing techniques help the manager

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