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

Find out the average and probability, Question 1:      (a)  The time it...

Question 1:      (a)  The time it takes to deliver a pizza after an order is placed is uniformly distributed between 20 and 50 minutes. What is the probability that a pizza wil

Example of selection a sample, Q. Example of Selection a Sample? Ans. ...

Q. Example of Selection a Sample? Ans. Suppose a presidential election is approaching and many people are interested in knowing which candidate is most likely to win the v

Metaphor, writing a Introduction on Metaphor

writing a Introduction on Metaphor

Probability, A box contains 20 fuses of which 5 are defective If 2 fuses ar...

A box contains 20 fuses of which 5 are defective If 2 fuses are chosen together at random what is the probability that both the fuses are defective?ion..

Evaluate the probabilities, Problem: a. According to a Business week po...

Problem: a. According to a Business week poll of 1035 adults, 40% of those surveyed agreed strongly with the proposition that business has too much power over American life (B

Sampling Error, Use the concepts of sampling error and z scores to explain ...

Use the concepts of sampling error and z scores to explain the concept of distribution of sample means.

Vectors, What do u mean by Vectors? Explain its types.

What do u mean by Vectors? Explain its types.

Parametric and non-parametric stats tests, What is the difference between p...

What is the difference between parametric and non-parametric stats tests? What is the difference between parametric and non-parametric stats tests? Different kinds or levels of d

Calculate permanent income, Suppose that permanent income, YP (t) is calcu...

Suppose that permanent income, YP (t) is calculated as the average of disposable income (YD t ) over the past 5 years, that is: YP (t) = 0.2(YD t + YD t-1 + YD t-2 + YD t-3

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