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

Calculate the probability of bmi, A file on DocDepot in the assignments fol...

A file on DocDepot in the assignments folder on doc-depot called bmi.mtp contains data on the Body Mass Index (BMI) of a population of Ottawa residents. The first column identifies

Calculate the probability of dealt, Please show work as we need to understa...

Please show work as we need to understand how to calculate the following 4 questions: 1.  You play a card game where 2s are considered wild.  You are dealt 7 cards - what is the

Optics, A thief is running away in his car with a velocity of 20m/s.A polic...

A thief is running away in his car with a velocity of 20m/s.A police jeep is following him which is sighted by the thief in his rearview mirror, a convex mirror of focal length 10m

Recruitment process process map, What are the steps in a recruitment proces...

What are the steps in a recruitment process and who are responsible for each step?

Authorized travel period , Authorized travel period Then period when the ...

Authorized travel period Then period when the visitor is in authorized travel position away from the established stop and established property. Talk about OFFICIAL STATION, OFFIC

Management accounting, 19. Welnor Industrial Gas Corporation supplies acety...

19. Welnor Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store''s operations follow: • Sales are budgeted at $320,000 fo

Explain correlation coefficient, Q. Explain Correlation Coefficient? A...

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 pi

Correlation and regression, What is regression analysis ? Discuss the relat...

What is regression analysis ? Discuss the relation between ''correlation coefficient'' and the ''regression coefficients''?

Elaborate bond issue, Elaborate bond issue A reference indicating the exac...

Elaborate bond issue A reference indicating the exacting or different classification or quantity of bonds issued at a specified moment.

Ex. 3-12, EXERCISE 3-12 Computing Predetermined Overhead Rates and Job Cos...

EXERCISE 3-12 Computing Predetermined Overhead Rates and Job Costs [LO1,LO2, LO3, LO7] Kody Corporation uses a job-order costing system with a plantwide overhead rate based on ma

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