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

Balance sheet-actual reserves , (a)   The bank's excess reserves are its ac...

(a)   The bank's excess reserves are its actual reserves less required reserves. Actual reserves are given as $450 from its balance sheet. Required reserves are given by the produc

Tandard deviation of the sample of juveniles, The National Marine Fisheries...

The National Marine Fisheries Services is part of the National Oceanic and Atmospheric Administration. NMFS's programs support the conservation and management of living marine reso

Shamim, the monthly income( in tk''s)persons workingin afarmis as flows ,14...

the monthly income( in tk''s)persons workingin afarmis as flows ,14870,14930,15020,14460,14750,14920,15720,15160,14680,14890 find average monthly income?

Business tax accounting , 1. Passive losses are fully deductible as long as...

1. Passive losses are fully deductible as long as they do not exceed $50,000 during the year. A) True B) False 2. Wages are considered "active income." A) True B) False 3. A de

accounting, Fenn Museum, a nongovernmental not-for-profit organization, ha...

Fenn Museum, a nongovernmental not-for-profit organization, had the following balances in its statement of functional expenses: Education $300,000 Fundraising 250,000 Management an

Bonds payable, Bonds payable The face worth of bonds issued and honorary. ...

Bonds payable The face worth of bonds issued and honorary. In the case of zero-coupon bonds, however, and the only and the accreted value of the tie is reported as bonds owed on t

Group project in statistics, I) Introduction 1) Topic (s) 2) Survey Questi...

I) Introduction 1) Topic (s) 2) Survey Question 3) Type of Sampling 4) Why? II) Calculations 1) Data Analysis (Charts, sample mean, sample standard deviation) 2) Probability 3) E

Management accounting, how cost classification can helpful for planning, co...

how cost classification can helpful for planning, controlling and decision making

Homework, I will need to upload the question sheets.

I will need to upload the question sheets.

Characteristics , Mention the characteristics of Statistics. Explain any tw...

Mention the characteristics of Statistics. Explain any two applications of Statistics

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