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

Kolmogorov test, how can i get a free software to run a kolmogorov test?

how can i get a free software to run a kolmogorov test?

Project , #question.questionnaire on drug abuse, its implication on youth e...

#question.questionnaire on drug abuse, its implication on youth educational achievements.

Help with Stats Homework!, Identify the unit of analysis in the following h...

Identify the unit of analysis in the following hypothetical research design: A research team wants to compare the school spirit at college campuses across the country to see if pri

Nucleus Composition, The study of radioactive disintegrations indicates the...

The study of radioactive disintegrations indicates the emission of alpha, beta and gamma particles/rays to be of nuclear origin. Further, study of artificial radioactivity has reve

Cost management, if sales is 6800 and variable costs are 2856 what is the v...

if sales is 6800 and variable costs are 2856 what is the variable cost percentage?

Aggressive growth fund, Define Aggressive Growth Fund: A mutual fund which ...

Define Aggressive Growth Fund: A mutual fund which is primary investment intention is substantial capital gains. The return & principal value of mutual funds fluctuate with changes

Analyse resources and accountability, The unfortunately-named (and fictitio...

The unfortunately-named (and fictitious) town of Avalanche, Utah maintains a vibrant and growing ski industry.  As Director of Avalanche's search-and-rescue operations, you are alw

Individual tax accounting, need help with exercise that asks to calculate g...

need help with exercise that asks to calculate gross income, adjusted gross income and taxable income based on items1-13, which i can submit the exercise copies as soon as you tell

Prepares reports on gasoline prices , The average cost of a gallon of unlea...

The average cost of a gallon of unleaded gasoline in Greater Cincinnati was reported to be $2.41 (The Cincinnati Enquirer, February 3, 2006). During periods of rapidly changing pri

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