Coefficient of correlation denoted, Mathematics

Assignment Help:

Coefficient of Correlation Denoted

There are two methods which measure the degree of correlation among two variables these are denoted by R and r.

(a) Coefficient of correlation denoted by r, this gives a measure of the strength of association among two variables one the dependent variable the other the independent variable r can range between -1 and +1 for perfect positive correlation and perfect negative correlation respectively along with zero indicating no relation that is for perfect positive correlation y increase linearly along with x increment.

(b) Rank correlation coefficient denoted by R is utilized to measure association among two sets of ranked or ordered data.  R can also vary from +1, perfect positive rank correlation and -1 perfect negative rank correlation whereas O or any type of number near zero representing no correlation.


Related Discussions:- Coefficient of correlation denoted

Areas of a rectangle, a rectangular field with a path around it measures 1...

a rectangular field with a path around it measures 120m by 50m.if the path is 1m wide all around,(a)find the length of the outer edge of the path.(b)find the area of the path

Lognormal distribution, The Lognormal Distribution If ln(X) is a normal...

The Lognormal Distribution If ln(X) is a normally distributed random variable, then X is said to be a lognormal variable. If P1, P2, P3, ... are the prices of a scrip in per

Oscar sold 2 glasses of milk for each 5 sodas he sold, Oscar sold 2 glasses...

Oscar sold 2 glasses of milk for each 5 sodas he sold. If he sold 10 glasses of milk, how many sodas did he sell? Set up a proportion along with milk/soda = 2/5 = 10x. Cross mu

Indices, what are the advantages and disadvantages of both Laspeyres and Pa...

what are the advantages and disadvantages of both Laspeyres and Paasche index

Analytical geometry, convert the equation 4x^2+4y^2-4x-12y+1=0 to standard ...

convert the equation 4x^2+4y^2-4x-12y+1=0 to standard form and determine the center and radius of the circle. sketch the graph.

Mutually exclusive events, Mutually Exclusive Events A set of events i...

Mutually Exclusive Events A set of events is said to be mutually exclusive if the occurrence of any one of the events precludes the occurrence of any of the other events for i

Conditional probability - rules of probability, Conditional probability - R...

Conditional probability - Rules of Probability This is the probability associated with combinations of events but given that some prior result has already been achieved with o

Simpson rule - approximating definite integrals, Simpson's Rule - Approxima...

Simpson's Rule - Approximating Definite Integrals This is the last method we're going to take a look at and in this case we will once again divide up the interval [a, b] int

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