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Correlation coefficient
- These are numerical measures of the correlations existing between the independent and the dependent variables
- These are better measures of correlation than scatter diagrams or graphs
- The range for correlation coefficients lies between negative (-ve) 1 and positive (+ve) 1. A correlation coefficient of positive (+1) show that there is perfect positive correlation. A value of negative (-ve) implies that there is perfect negative correlation. A value of 0 implies no correlation at all
- Given chart will be found useful in interpreting correlation coefficients
There are generally two types of correlation coefficients normally used that is:
A={2,3,5,7,11} B={1,3,5,7,9} C={10,20,30,40,......100} D={8,16,24,32,40} E={W,O,R,K} F={Red,Blue,Green} G={March,May} H={Jose,John,Joshua,Javier} I={3,6,9,12,15}
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