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

Psy1110 Module 2, Which of the following does Utts consider a disaster in s...

Which of the following does Utts consider a disaster in sampling?sk question #Minimum 100 words accepted#

Time series, time series use in indian economy

time series use in indian economy

Question from inventory, CASE STUDY 1 3 MARKS An audit of the...

CASE STUDY 1 3 MARKS An audit of the accounting records of Loch Ness Ltd. for the year ending 30 June 2012 discovered that the ending inventory balance

Anova, How to interpret Anova

How to interpret Anova

When are expenses credited, When are expenses credited? While common jo...

When are expenses credited? While common journal cost records are typically debited and have debit account balances, there are times when the cost records are acknowledged.

perform hypothesis test and find the minimum sample size, Questions ...

Questions In one hybridization experiment 8070 offspring seeds were obtained, and 23.54% of them had green flowers.  The others had white flowers.  Perform a hypothesis test

Find the probability that the total weight of a full rack, Question: (a...

Question: (a) Packs of food have weights that are distributed with standard deviation 2.3 g. A random sample of 200 packets is taken. The mean weight of this sample is found t

Cost accounting, what are the objective and importance of cost accounting a...

what are the objective and importance of cost accounting and managerial decision making.

Identify the test statistic, The National Center for Health Statistics rece...

The National Center for Health Statistics recently released a report that stated 70% of adults do not exercise regularly. A researcher decided to test whether the results on a stat

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