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

Quantitative research methods, I have four assignments that are due tomorro...

I have four assignments that are due tomorrow. Can you help?

Binomial expansion, what is the largest coefficient of (1+3x)^4 is ?

what is the largest coefficient of (1+3x)^4 is ?

Combination and permuations, Alarm units are to be connected at four fixed ...

Alarm units are to be connected at four fixed positions along a pipeline. In how many ways can the four available alarm unites be connected to the four positions along the line?

Chi-square Test, six subjects were exposed to 4 treatments and the followin...

six subjects were exposed to 4 treatments and the following data were recorded

How will the adoption of ifrs change financial reporting, How will the adop...

How will the adoption of IFRS change financial reporting by companies? Manager 1: The new rules will definitely change the way our organization prepares financial statements.

Accounting standards in united states, United States: There are currently ...

United States: There are currently more than 10000 companies that are registered with the SEC (Securities Exchange Commission). Of these, around 1000 are non US companies. The non

Calculate the transition probabilities, Consider a person who repeatedly pl...

Consider a person who repeatedly plays a game of chance (gambling)with two results possible (win or lose) with a probability p = 0, 3 to win. If the person has bet x amount and if

Case study, A survey was conducted among the residents of Pune City, its su...

A survey was conducted among the residents of Pune City, its suburbs and the PuneCantonment area. The following three pie diagrams show their respective preferences for living in C

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