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

Is the coin biased, A coin that is balanced should come up heads half the t...

A coin that is balanced should come up heads half the time in the long run. A coin is tossed 4040 times and gives 2085 heads. Is the coin biased? Use Alpha = .05. (State the Hypoth

Transition towards ifrs, Transition towards IFRS Over the last few year...

Transition towards IFRS Over the last few years, there has been a tremendous change in the world's capital markets. There has thus been a shift away from the local financial re

Cost accounting, To bring Mr. Kid to justie, the company must reconstruct i...

To bring Mr. Kid to justie, the company must reconstruct its activities for June. You have been assigned to perform the task of reconstruc*ion. After interviewing selected employee

Discuss the role that racism played in public policies, Discuss the role th...

Discuss the role that racism played in public policies related to urban housing throughout the twentieth century. Did this racism manifest itself solely on an individual level (i.e

calculate the chi-square statistic, The table below shows a breakdown of w...

The table below shows a breakdown of women between the ages of 20 to 64 who have had a Pap smear--it shows the number in each age group cross tabulated with the time of their last

Linear programming., what are the requirements of linear programming?

what are the requirements of linear programming?

Yujhug, An electron, an alpha-particle and a proton have the same kinetic e...

An electron, an alpha-particle and a proton have the same kinetic energy. Which one of these particles has the largest de-Broglie wavelength ?

Normal distribution, For a normal distribution why do we calculate the prob...

For a normal distribution why do we calculate the probability of a range of numbers instead of the probability of a single number?

Use of Assets , Use of Assets A potential upcoming financial advantage acq...

Use of Assets A potential upcoming financial advantage acquired or managed by a particular business due to past purchases or activities. These financial options can be concrete or

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