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Correlation
How does rank correlation differ from Pearson correlation coefficient?
Rank collection co-efficient and simple correlation coefficient have the same interpretation. Its formula has been derived from simple correlation coefficient where individual values have been replaced by rank. These ranks are used for the calculation of correlation. This coefficient provides a measure of linear association between ranks assigned to units not their values correlation. Following formula is used for calculating rank correlation
In Karl Pearson’s coefficient of correlation, the values of two series are not assigned rank. The correlation coefficient provides a measure of linear association to the values of the variables. Following formula i.e. used for calculating the correlation coefficient.
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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?
Collect the price of five vegetables from your local market everyday for a week. Calculate their correlation coefficient. Interpret the result.
List some variables where accurate measurement is difficult.
Interpret the values of r as 1, –1 and 0.
Why does rank correlation coefficient differ from Personian correlation co-efficient?
Measure the height of your classmates. Ask them the height of their benchmate:Calculate the correlation coefficient of these two variables. Interpret the result
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