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

Explain the effects of the transactions, Explain the effects of the transac...

Explain the effects of the transactions on Accounting Equation under a Financial Accounting System. Ans. Under the Double Entry System each of the financial transaction bring the

Kurtosis, define kurtosis with relevant examples

define kurtosis with relevant examples

Calculate the average profit, A machine is used for machining of a manufact...

A machine is used for machining of a manufactured product. At the beginning of each business day inspection reveals the machine's condition. There are three possible states: 0, 1 a

Bond Relationship, Bond Relationship A debt gadget issued through a offici...

Bond Relationship A debt gadget issued through a official or just the formal legal procedure and secured either by the pledge of detailed properties or revenues or by the general

Applying missing data, For this assignment, you will have to review each co...

For this assignment, you will have to review each column and make a decision for how to adjust for the missing data. After you correct for missing data in each column, please des

Why Agency code is useful, Why Agency code is useful The four personality n...

Why Agency code is useful The four personality number code allocated by the Workplace of Economical Control to select the unique business models of condition. Organization requirem

Define payroll withholdings, Define Payroll Withholdings The U. S. earn...

Define Payroll Withholdings The U. S. earnings tax system-as well as most condition earnings tax systems-requires business employers to hold paycheck taxation from their staff'

Data screening, Write a sample Results section, discussing your data screen...

Write a sample Results section, discussing your data screening activity.

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