Podcast
Questions and Answers
What does partial correlation measure in probability theory and statistics?
What does partial correlation measure in probability theory and statistics?
- The standard deviation of a sample
- The degree of association between two random variables, with the effect of controlling variables removed (correct)
- The absolute strength of the relationship between two random variables
- The variance of a single random variable
What problem does using a partial correlation coefficient aim to avoid?
What problem does using a partial correlation coefficient aim to avoid?
- Underestimating the effect size
- Overfitting the data
- Ignoring outliers in the data
- Misleading results caused by uncontrolled confounding variables (correct)
Why might using the correlation coefficient alone give misleading results?
Why might using the correlation coefficient alone give misleading results?
- If the sample size is too small
- If there is another confounding variable that is numerically related to both variables of interest (correct)
- If there is no linear relationship between the variables
- If the correlation coefficient is negative
In what context would failing to control for wealth when computing a correlation coefficient between consumption and income lead to misleading results?
In what context would failing to control for wealth when computing a correlation coefficient between consumption and income lead to misleading results?
What does multiple regression provide unbiased results for, but does not give a numerical value for?
What does multiple regression provide unbiased results for, but does not give a numerical value for?
What is the range of possible values for the correlation coefficient?
What is the range of possible values for the correlation coefficient?
What does a correlation coefficient close to +1 indicate?
What does a correlation coefficient close to +1 indicate?
In algebraic notation, how is the correlation coefficient calculated for two variables x and y?
In algebraic notation, how is the correlation coefficient calculated for two variables x and y?
What does a correlation coefficient close to -1 indicate?
What does a correlation coefficient close to -1 indicate?
What does the scatter diagram reveal about the strength of the linear relationship between two variables?
What does the scatter diagram reveal about the strength of the linear relationship between two variables?