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

Explain system control and security tools, 1. Explain the effects that MIS,...

1. Explain the effects that MIS, DSS, CRM and ERP have on organizational communication and decision making to increase productivity and efficiency in an increasingly competitive bu

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.

Methods of calculation of standard deviation , Methods  of calculation of ...

Methods  of calculation of standard deviation a. Calculation of Standard  Deviation  - Individual Series: There  are two methods of calculating standard  deviation in an ind

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

Decision trees, Ask questioA farmer intends to drill a well for his herd. I...

Ask questioA farmer intends to drill a well for his herd. In the past, only 80% of the wells drilled in this area were successful at 12 metres of depth. On finding no water at 12 m

Scattered responsibility and authority, Scattered Responsibility and Autho...

Scattered Responsibility and Authority: In a big industry responsibility and authority of decisions making is scattered throughout the organization and thus the organization.

Construction procedure for research tool, CONSTRUCTION PROCEDURE The c...

CONSTRUCTION PROCEDURE The construction of an interview schedule or questionnaire is a time consuming task requiring considerable attention to all the details. The investig

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

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

Goal programming, Goal Programming This provides a more realistic model...

Goal Programming This provides a more realistic model. In a modern setting, profit maximization may not be the only objective of a business concern. Other objectives or goals c

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