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.
