Methods of Studying Correlation
by The Correlation is a statistical tool used to measure the relationship between two or more variables, i.e. the degree to which the variables are associated with each …
Category: Management Notes
Management Notes of Various Universities across india
Scatter Diagram
The Scatter Diagram Method is the simplest method to study the correlation between two variables wherein the values for each pair of a variable is plotted on …
Properties of Correlation co-efficient
The following are the main properties of correlation. Coefficient of Correlation lies between -1 and +1: The coefficient of correlation cannot take value less than …
Rank correlation; coefficient of determination
Rank correlation Sometimes there doesn’t exist a marked linear relationship between two random variables but a monotonic relation (if one increases, the other also increases …
Lines of Regression; Co-efficient of regression
Lines of Regression The Regression Line is the line that best fits the data, such that the overall distance from the line to the points (variable values) …
Standard error of estimate
The Standard Error of Estimate is the measure of variation of an observation made around the computed regression line. Simply, it is used to check the accuracy …
Meaning and Objectives of Measures of Central Tendency
Measures of Central Tendency or Averages have been defined differently by different statisticians. “A measure of Central tendency is a typical value around which other …
Arithmetic Mean: Characteristics, Applications and Limitations
The arithmetic mean,’ mean or average is calculated by summing all the individual observations or items of a sample and dividing this sum by the …
Median: Characteristics, Applications and Limitations
The median of a set of data values is the middle value of the data set when it has been arranged in ascending order. That …
Mode: Characteristics, Applications and Limitations
The mode is a statistical term that refers to the most frequently occurring number found in a set of numbers. The mode is found by …
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