10 Questions
What is the meaning of perfect correlation?
Correlation coefficient is 1
When two variables move in the opposite direction, what is the nature of the correlation of two variables?
Negative correlation
Define Simple, Multiple and Partial correlation.
Simple: Relationship between two variables; Multiple: Relationship between more than two variables; Partial: Relationship between multiple variables while controlling for other variables
Define Regression.
Regression estimates the value of one variable based on another variable.
$b_{xy} = 0.32$, if $r = 0.8$, what will be the value of $b_{yx}$?
$0.24$
Define correlation. Write its types also.
Correlation is a statistical measure that describes the extent to which one variable changes when another variable changes. The types of correlation include positive correlation, negative correlation, and no correlation.
Define the term positive correlation.
Positive correlation is a relationship between two variables in which they move in the same direction. This means that as one variable increases, the other variable also increases.
What is a linear correlation.
A linear correlation is a relationship between two variables that can be represented by a straight line on a scatter plot.
Define Regression.
Regression is a statistical method used to examine the relationship between two or more variables. It is commonly used to predict the value of one variable based on the value of another variable.
If the coefficient of correlation between two variables $x$ and $y$ is 0.64, their covariance is 16, and the variance of $x$ is 19, find the standard deviation of the $y$ series.
The standard deviation of the $y$ series can be found using the formula $s_y = r \cdot \frac{s_x},{|r|}$, where $r$ is the coefficient of correlation and $s_x$ is the standard deviation of the $x$ series. Substituting the given values, we get $s_y = 0.64 \cdot \frac{\sqrt{19}},{0.64} = \sqrt{19}$. Therefore, the standard deviation of the $y$ series is $\sqrt{19}$.
Test your knowledge of correlation and its types with this quiz. Learn about positive correlation, perfect correlation, linear correlation, and negative correlation, along with calculation of standard deviation and covariance.
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