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

Conceptual structure of financial, conceptual structure of financial In...

conceptual structure of financial In financial accounting, There were many breaks in the conceptual structure of individual forums for example both the forums hadn't conducted

Concept of depreciation briefly, concept of Depreciation briefly. The pr...

concept of Depreciation briefly. The primary idea of the Depreciation is to create off the value of worried resources by a certain amount as per prescribed. Devaluation is incur

Correlation and regression, The square of the sample correlation coefficien...

The square of the sample correlation coefficient is typically denoted r2 and called the coefficient of determination. It estimates the fraction of the variance in Y that is explain

Cost accounting test, i need someon to help me do my cost accounting test

i need someon to help me do my cost accounting test

Find population and standerd dev, Find a population data set that contains ...

Find a population data set that contains six entries, has a mean of 5, and has a standard deviation of 2

Help with homework, 1. Penny Pincher, Inc. had a contribution margin of $33...

1. Penny Pincher, Inc. had a contribution margin of $33,000 on sales of $50,000 and had fixed costs of $18,000. Calculate its break-even point in sales dollars. 2. Krueger Company

Hypotheses- sampling methodology or data collection design, Research Assign...

Research Assignment for Quantitative Methods 2 Purpose: To design, undertake and analyse research on a negotiated project, possible themes could be any one of the following:

Co-efficient of covariance., solution of problems based on coefficient of c...

solution of problems based on coefficient of covariance

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