Identify the true statements about the correlation coefficient, ?r. The sign of ?r describes the direction of the association between two variables. When the data points in a scatter plot fall closely around a straight line that is either increasing or decreasing, the correlation between the two variables is strong. If two variables are negatively correlated, when one variable increases, the other variable also increases. A correlation coefficient of zero means that no relationship exists between the two variables. The correlation coefficient is not affected by outliers. The value of ?r ranges from negative one to positive one.
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.
Identify the true statements about the
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