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!
Significance of Correlation
The study of correlation is of immense use in practical life. Correlation analysis contributes to the understanding of economic behavior, aids in locating the critically important variables on which others depend, may reveal to the economist the connection by which disturbances spread and suggest to him the paths through which stabilizing forces may become effective.
In business, correlation analysis enables the executive to estimate costs, sales, prices and other variables on the basis of some other series with which these costs, sales, or prices may be functionally related.
Some of the guesswork can be removed from decisions when the relationship between a variable to be estimated and the one or more variables on which it depends are close and reasonably invariant.
However, it should be noted that coefficient of correlation is one of the most widely used and also one of the most widely abused statistical measures. It is abused in the sense that one sometimes overlooks the fact that correlation measures nothing but the strength of linear relationship and that it does not necessarily imply a cause-effect relationship.
Correlation Analysis Correlation Analysis is performed to measure the degree of association between two variables. The measure is called coefficient of correlation. The coeffic
In this problem, we use the CSDATA data set, which is available in 'CSDATA.txt'. We do ne an indicator variable, say HIGPA, to be 1 if the GPA is 3.0 or better and 0 other- wise. S
The file Midterm Data.xls has a tab labeled "Income Data 2009". This data is collected income data from a sample of 400 people in 2009. Use a hypothesis test to see whether the av
The data in the data frame asset are from Myers (1990), \Classical and Modern Regression with Applications (Second Edition)," Duxbury. The response y here is rm return on assets f
For calculating the mode of the grouped data graphically, the following procedure is adopted. Draw a histogram of the data; the modal class is the tallest rectangle.
Cause and Effect Even a highly significant correlation does not necessarily mean that a cause and effect relationship exists between the two variables. Thus, correlation does
In simple regression the dependent variable Y was assumed to be linearly related to a single variable X. In real life, however, we often find that a dependent variable may depend o
1. Definition of decision tree, 2. Feature of decision theory problem
Determine the maximum weight in kN to one decimal point (1 DP) of the engine that can be supported without exceeding the tension given in Parameter 1 (P1) in chain AB or 1.1 x P1
Sampling Error It is the difference between the value of the actual population parameter and the sample statistic. Samples are used to arrive at conclusions regarding the p
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: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd