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Correlation
What is co-efficient of correlation of Karl-Pearson’s? Give its formula and limited degree of correlation.
The co-efficient of correlation of Karl Pearson’s is the quantitative measure of the relationship of two variables X and Y. It is represented by r. It is based on arithmetic mean and standard deviation. The co-efflciant of correlation (r) of two variables is obtained by dividing the sum of the products of the corresponding deviations of the various items of the two series from their respective means by the product of their standard deviation and the number of pairs of observations. Symbolically.
Limited degree of correlation coefficient: The value of correlation coefficient lies between minus one and plus one. The calculated result of correlation must valy between -1 to +1. Symbolically.
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If rxy is positive the relation between X an Y is of the type:
If rxy = 0 the variable X and Y are:
Of the following three measures which can measure any type of relationship:
If precisely measured data are available the simple correlation coefficient is:
Why is r preferrred to co-variance as a measure of association?
Can r lie outside -1 and 1 range depending on the type of data?
Does correlation imply causation?
When is rank correlation more precise than simple correlation coefficient?
Does zero correlation mean independenc?
Can simple correlation coefficient measure any type of relationship?
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