Calculate the correlation coefficient of X and Y.
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.
Two tire quality experts examine stacks of tires and assign quality ratings to each tire on a
3-point scare. Let X denote the grade given by experts A and let Y denote the grade given
by B. the following table gives the joint distribution for X, Y.
Y
X 1 2 3
1 0.10 0.05 0.02
2 0.10 0.35 0.05
3 0.03 0.10 0.20
vii. Calculate the
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