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

Financial accounting, During October, Alcorn Company had 81,250 of cash rec...

During October, Alcorn Company had 81,250 of cash receipts and 83,688.00 of cash disbursements. The October 31 cash balance was 14,060. Determine how much cash the company had at

Exercises problem solving, a manufacturer claims that 60% of beer drinkers ...

a manufacturer claims that 60% of beer drinkers perfer his beer. A query with 30 beer drinkers selected at random showed that 16 of them prefer this brand.(a.)Does the evidence sup

Obtain the p-value for the value of the test statistic, A study looked at t...

A study looked at the relationship between coronary heart disease (CHD) and coffee consumption in a group of 40-55 year old men. Among the 790 heavy coffee drinkers (at least 100 c

Determine the correct interpretations - confidence interval, Which of the f...

Which of the following statements are correct interpretations of a 95% confidence interval for μ? (a) 95% of the observations in the sample will be contained in the confidence i

Fluid mechanics, Find the kinematic and dynamic viscosities of air at a tem...

Find the kinematic and dynamic viscosities of air at a temperature of 189°F and a pressure of 29 psia using Sutherland''s equation and the ideal gas law .

Financial sales, Financial sales and building sensible financial help C...

Financial sales and building sensible financial help Conceptual structure can be identified as a structure. It is a structured design of connected goals and fundamental concept

Probability, A certain manufactured item is visually inspected by two diffe...

A certain manufactured item is visually inspected by two different inspectors. When a defective item comes through the line, the probability that it gets by the first inspector is

Calculate its stationary probabilities, A small specialized workshop is use...

A small specialized workshop is used to perform periodic check-up on some high-tech devices. The check up is made in three stages whose durations are independent random variables w

Business valuation to determine the stock price of an entity, Definition of...

Definition of business valuation to determine the stock price of an entity. Business valuation is the value or price where a unit would be purchased at a given point in time. Usual

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