4. a. Write a detailed note on correlation coefficient b. Calculate correlation coefficient between the following series Year 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 Road Accidents 155 150 180 135 156 168 178 160 132 145 70 74 Consumption of bear 70 63 72 60 66 65 64 68
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
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