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

Estimate the proportion of lake trout with lamprey scars, In a certain lake...

In a certain lake a limnologist wishes to estimate the proportion of lake trout with lamprey scars. (a) How large of a random sample should be taken if the limnologist has no pr

Regression line, regression line drawn as Y=c+1075x, when x was 2 and y was...

regression line drawn as Y=c+1075x, when x was 2 and y was 239, given that y intercept was 11. calculate the residual

QUANTITATIVE METHODS., A LARGE SHIPPPING COMPANY RECORDED THE NUMBERS OF TO...

A LARGE SHIPPPING COMPANY RECORDED THE NUMBERS OF TONS SHIPPED WEEKLY ACROSS THE PACIFIC FOR 50 WEEKS. ARRANGE DATA IN A LESS THAN CUMULATIVE DISTRIBUTION USING SEVEN CLASSES OF E

The smallest total monthly cost , Each month, the firm Cashco has 50% chanc...

Each month, the firm Cashco has 50% chance that an amount of $ 1,000 will be credited In its current account, and a 50% chance that the account is debited $ 1,000. As current accou

Probability, A bag contain 5 white, 7 red and 8 black balls. If four balls ...

A bag contain 5 white, 7 red and 8 black balls. If four balls are drawn one by one without Replacement, find the probability of getting all white balls.

Force, The 70-m microwave transmission tower

The 70-m microwave transmission tower

Draw the roc diagram-equilibrium probability, A. Use the inequality derived...

A. Use the inequality derived for part C question 3; to obtain an inequality required x *CD  = 1 to remain stable against DD invaders. Also draw the ROC diagram discussed in class

Statistical quality control, If in a hall there are 18 persons then how man...

If in a hall there are 18 persons then how many handshakes are possible?

Working capital, prepare an estimate of working capital requirements from t...

prepare an estimate of working capital requirements from the following information 1. project annual sales 1,00000/- 2. selling price Rs. 8/unit 3.percentage of net profit on sale

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