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

Taxation law, An employer provides taxable fringe benefits of $11,000 (GST ...

An employer provides taxable fringe benefits of $11,000 (GST inclusive) for his employees during the relevant period, all being for creditable purposes and input tax credits of

Collection method, what is the advantages of face-to-face interview?

what is the advantages of face-to-face interview?

Determine the simple linear regression model, You have collected data from ...

You have collected data from the factory on a critical to quality attribute. The attached Excel spreadsheet lists the response, Y and four potential predictors. You would like to m

Illustrative statistics with statistics, Company statistics is the technolo...

Company statistics is the technology of good selection in the face of concern and is used in many professions such as financial statistics, econometrics, auditing, generation and f

Characteristic, 1. Mention the characteristics of Statistics. Explain any t...

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

Interpretation or analysis of financial statements, Interpretation or Analy...

Interpretation or Analysis of Financial Statements. Financial report research (or financial analysis) the procedure of comprehension the possibility and earnings of an organizat

Measure central tendency, 1. A researcher is comparing two middle school 7t...

1. A researcher is comparing two middle school 7th grade classes. One class at one school has participated in an arts program (involving putting on a musical play) which emphasized

Accounting cases, Hi I just want to know if you many be able to solve thes...

Hi I just want to know if you many be able to solve these three cases for intermediate accounting class! Thank you

Ogive, When we use upper or lower class boundaries during calculation of og...

When we use upper or lower class boundaries during calculation of ogive graph?

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