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

Decision analysis models, These models deal with the selection of an opt...

These models deal with the selection of an optimal course of action given the possible pay offs and their associated probability of occurrence. These models are broadly

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

Operation reaserch, 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

Seven step to a successful presentation, Seven Step to a Successful Present...

Seven Step to a Successful Presentation There  are seven  basic  step which  need to  kept  in mind at the  time of  making  a presentation. How  successful one  is at eh end

Phase of operation research, The scientific method in O R study generall...

The scientific method in O R study generally involves the followings three phases: 1. Judgment phase, 2. Research phase 3. Action phase

one tailed test diagrams - hypothesis testing, Normal 0 false ...

Normal 0 false false false EN-IN X-NONE X-NONE

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

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

Markov chain models - operation research model, These models are used for a...

These models are used for analyzing a system which changes over a period of time among various possible outcomes or states. The models while dealing with such systems describe tra

compute probabilities-transitions and transition rate, Consider a queueing...

Consider a queueing system with 1 counter, to which groups of customers arrive according to a Poisson proces with intensity l. The size of a group is 1 with probability p and 2 wit

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