Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Rank Correlation
Sometimes the characteristics whose possible correlation is being investigated, cannot be measured but individuals can only be ranked on the basis of the characteristics to be measured. We then have two sets of ranks available for working out the correlation coefficient. Sometimes the data on one variable may be in the form of ranks while the data on the other variable are in the form of measurements which can be converted into ranks.
Thus, when both the underlying variables are ordinal or when the data are available in the ordinal form irrespective of the type of variable, we use the rank correlation coefficient to find out the extent of relationship between the two variables.
This rank correlation coefficient is also known as Spearman's rank correlation coefficient. Rank correlation is a non-parametric technique for measuring strength of relationship between paired observations of two variables when the data are in a ranked form.
Rank Correlation measures the degree of agreement between the two sets of ranks.
Rank Correlation Coefficient R is
where, n = Number of individuals ranked
Di = Difference in the ranks of the ith individual
i = 1, 2, ........ n
Example
The ranks of 8 students are given according to their marks in English and History.
Student No.
1
2
3
4
5
6
7
8
English
History
We want to know whether or not students who are good in English are also good in History. For this the calculations are:
Here
R
The correlation between the ranks is seen to be low.
The data in the data frame compensation are from Myers (1990), Classical andModern Regression with Applications (Second Edition)," Duxbury. The response y here is executive compens
Problem : A company supplying electrical products, places a rush order for electric wires. Consignments of wires are to be sent immediately when they are available. Previous
Descriptive Statistics : Carrying out an extensive analysis the data was not a subject to ambiguity and there were no missing values. Below are descriptive statistics that hav
Statistician is searching the \home ground" effect and is studying 20 football games, of which 14 were won by the home team and 6 by the visitors. Therefore the game is a Bernoulli
whats mean by Double Exponential Smoothing
Collect data about the chosen business problem or opportunity at the company. Explain how you obtained a suitable sample of either qualitative or quantitative data. Review data f
Suppose the money supply process is now represented by the following function: where m measures the sensitivity of money supply with respect to the interest rate. (i) Us
Estimate a linear probability model: Consider the multiple regression model: y = β 0 +β 1 x 1 +.....+β k x k +u Suppose that assumptions MLR.1-MLR4 hold, but not assump
Explain the characteristics of business forecasting.
what is non linear modl
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd