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

Hitorigram, what is difference between histogram and historigram

what is difference between histogram and historigram

Test the hypothesis, Arnold Palmer and Tiger Woods are two of the best golf...

Arnold Palmer and Tiger Woods are two of the best golfers ever to play the game. To show how these two golfers would compare if both were playing at the top of their game, the foll

Probability, If there are 12 numbered balls in a basket (0-11), and you get...

If there are 12 numbered balls in a basket (0-11), and you get 6 chances to pick a ball what are the odds to get two of the same number, 3 of the same number, 4, 5 and 6. I would

Introduction of management accounting, Introduction of Management Accountin...

Introduction of Management Accounting Management accounting or managing sales is worried with the conditions and use of sales details to professionals within companies, to off

Define tension and stress, Tension: When a sequence, place, cable or a man ...

Tension: When a sequence, place, cable or a man is presented tight, the ends of the sequence or place (or wire) pull on whatever systems are connected to them towards the sequence.

Perform nonlinear regression analysis of a set - polynomial, This assignmen...

This assignment is designed to compare performance between Matlab and Excel for performing nonlinear regression analysis of a set of data. There are two data sets in the accompanyi

Depreciation application procedure, Depreciation Application procedure. ...

Depreciation Application procedure. Under this technique devaluation is incurred immediately to the Resources Consideration for example if 10% of devaluation is being incurred o

What is a valuation account, What is a valuation account? In accounting...

What is a valuation account? In accounting, an assessment consideration is usually a stability sheet consideration that is used in combination with another stability sheet cons

How i can find accounting tutor for my homework due in today, How i can fin...

How i can find accounting tutor for my homework due by today? I need urgent help in my homework, please let us know when i can get homework help

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