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

Time series, discuss the nature and causes of the components of an economic...

discuss the nature and causes of the components of an economic time series?

Probability, #question An electronic assembly is subjected to a final funct...

#question An electronic assembly is subjected to a final functional test. Suppose that defects occur at random in these assemblies, and that these defects occur according to a Pois

Determine the average sales, A company prepares dinners for several airline...

A company prepares dinners for several airlines, and sales average 300,000 meals per month. The significant costs of each dinner prepared are for the meat, veg,plastic trays, and u

Z-square, Is the z-square the same as the z-test? what is it used for and h...

Is the z-square the same as the z-test? what is it used for and how is it different from t-square?

Hcfp test the drainage system, After successfully having navigated the LPP ...

After successfully having navigated the LPP issue, HCFP has once again for your help.  Now, they are considering implementing a new drainage system to improve water flow across the

Bond redemption, Bond redemption The regaining of control of bonds formerly...

Bond redemption The regaining of control of bonds formerly issued by expense of amount due to the owner.

Probability mass function, how p(x)=hyper geometric distribution is probabi...

how p(x)=hyper geometric distribution is probability mass function

Plural sense, explain all the nature of statistics

explain all the nature of statistics

Generate a hypothesis test , An instructor wants to determine which of his ...

An instructor wants to determine which of his students are A students and which are B students (this is a graduate course, so clearly all the students are either A or B stu

find the return period of critical event, A drainage system overows into a...

A drainage system overows into a river causing pollution when the rainfall falling in an hour exceeds 50 mm. During any given year, the maximum hourly rainfall follows an exponenti

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