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

Discrete and continous random variables, determine the required value of th...

determine the required value of the missing probality to make the distribution a discrete probability distribution

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

Probability, s. All human blood can be "ABO-typed" as one of O, A, B, or AB...

s. All human blood can be "ABO-typed" as one of O, A, B, or AB, but the distribution of the types varies a bit among groups of people. Here is the distribution of blood types for a

Balance sheet test, told my friend I would help on a test, and now, think i...

told my friend I would help on a test, and now, think its beyond me LOL...want to save face, can you help me?

Managing ashaland multicomm service, please give me, example answer managin...

please give me, example answer managing ashland multicomm servicess. tq

Regresion analysis, If the regression line is drawn as Y = C + 1075x, when ...

If the regression line is drawn as Y = C + 1075x, when X was 2 and y was 239, given that the intercept was 11. Calculate the residual

Accounting is an art of recording, Accounting is an art of recording Yes...

Accounting is an art of recording Yes, we recognize upon that declaration because if we evaluate the primary features of the accounting program we will find that primary three p

Explain the effects of the transactions, Explain the effects of the transac...

Explain the effects of the transactions on Accounting Equation under a Financial Accounting System. Ans. Under the Double Entry System each of the financial transaction bring the

Lpp, A paper mill produces two grades of paper viz., X and Y. Because of ra...

A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i

Bi variate frequency distribution, solved example with data of bi variate f...

solved example with data of bi variate frequency distribution

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