Explain correlation coefficient, Basic Statistics

Assignment Help:

Q. Explain Correlation Coefficient?

Ans.

The strength of a linear correlation is determined by how precisely the y variable shifts as the x variable increases. The two pictures on the right show data with a higher correlation than those on the left.

1619_Explain Correlation Coefficient.png

Data is said to have a perfect correlation if all points lie exactly along a line.

259_Explain Correlation Coefficient1.gif

The correlation coefficient, r, is a measure of the strength of the correlation. It is a number between 1 and +1. +1 indicates a perfect positive correlation and 1 indicated a perfect negative correlation. If r is positive, then there is a positive correlation between the two variables. If r is negative, there is a negative correlation between the variables.


Related Discussions:- Explain correlation coefficient

Differance between categorical and dependent variable, Choose a topic that ...

Choose a topic that interests you that you can explore either with the 2006 GSS. You should have one primary "dependent" variable that you are interested in (Y). This variable shou

Probability, A bag contain 5 white, 7 red and 8 black balls. If four balls ...

A bag contain 5 white, 7 red and 8 black balls. If four balls are drawn one by one without Replacement, find the probability of getting all white balls.

What is prime cost, What is prime cost? Primary price is the combin...

What is prime cost? Primary price is the combination of a manufactured item's expenditures of immediate materials and immediate labor. In other words, prime price represent

Cost accounting, What is the journal entry for starting and completing 1912...

What is the journal entry for starting and completing 1912 puzzles (in units)

Difference in the loss in man-hours - accidents in firms, An occupational h...

An occupational health inspector was interested in determining whether there is a difference in the loss in man-hours due to accidents  by introducing a new safety programme.  The

Values of income and intrest rate, Now imagine that consumption is given as...

Now imagine that consumption is given as:             C = 400 + 0.9YD - 1,750i And as above:       Y = PE = C + I + G + NX                           (Income identity)

MANOVA, 5. Perform a factorial MANOVA on the data. Before interpreting the ...

5. Perform a factorial MANOVA on the data. Before interpreting the multivariate results of the MANOVA, check outcomes that test other assumptions for this statistic: equality of co

How this works, So I can send you a word problem & you van send the answers...

So I can send you a word problem & you van send the answers back in excel for me?

Cronbach alpha, How to calculate manually Cronbach alpha

How to calculate manually Cronbach alpha

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