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

Cost accounting, Problems and solutions in marginal costing

Problems and solutions in marginal costing

Medical stats, i want to see if my assignment can be done?

i want to see if my assignment can be done?

Ifrs financial instruments, journal entries of a loan swap with different c...

journal entries of a loan swap with different currency

The impact of the shift to ifrs, How do you think the banking sector is goi...

How do you think the banking sector is going to get impacted?   Manager 1: The impact of the shift to IFRS is going to be much higher in the banking sector. This impact woul

What is meant by the full cost of a product, What is meant by the full cost...

What is meant by the full cost of a product? Many organizations use the expression top dollars to mean the complete creating or technology cost of a product. To this organiz

Oecd database exercise , For this second assignment you will have to use th...

For this second assignment you will have to use the OECD database to investigate possible changes in the policy preferences of Western welfare states. You have to develop (i) an in

Governmental Accounting, The fund statements for gorvernmental funds should...

The fund statements for gorvernmental funds should include a? A. Balance sheet for governmental funds. B. Statement of revenues,expenses, and changes in fund net assets. C.Statemen

Acct 1100, comprehensive problem 1 chapter4

comprehensive problem 1 chapter4

What is the margin of error, The National Quality Research Center at the Un...

The National Quality Research Center at the University of Michigan provides a quarterly measure of consumer opinions about products and services (The Wall Street Journal, February

Accounting standards aims and objectives, Accounting Standards Aims and Obj...

Accounting Standards Aims and Objectives:  The aim of this report is to understand the various changes that have taken place in the accounting standards in various countries since

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