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

Define BIENNIUM, Define BIENNIUM A 24-month fiscal era. In Washington, the...

Define BIENNIUM A 24-month fiscal era. In Washington, the biennium expands from July 1 of odd numbered years to June 30 of odd numbered or more years.

Stistics, what are the function of statistics in business onganizations?

what are the function of statistics in business onganizations?

Management accounting, The Rohr Company''s old equipment for making subasse...

The Rohr Company''s old equipment for making subassemblies is worn out. The company is considering two alternatives: a) Completely replacing the old equipment with new equipment

Accounts receivable solutions, Volumes due from personal individuals or com...

Volumes due from personal individuals or companies for products, and/or solutions equipped by the condition. Records Receivable does not involve amounts due from other companies, r

Elaborate accounting procedures , All procedures that discover, recognize h...

All procedures that discover, recognize history, move, sustain, and review economical information to either generate economical statements or to provide inner control.

Probabilities, 54% of teens own a music player, the probability that both t...

54% of teens own a music player, the probability that both the parent and the teen own music player is 0.264, what is the probability that parent owns music player given that teen

Explain accounting methods, Define various methods in accounting, specifica...

Define various methods in accounting, specifications and procedures.

Capitalization policy, Capitalization policy The criteria used to decide w...

Capitalization policy The criteria used to decide which capital outlays should be reported as capital assets on the whole state are financial statements,

Standard deviation, the first four moments of a distribution about the mean...

the first four moments of a distribution about the mean are 0,16,-64 and 162.what is the standard deviation ?

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