An example of a perfectly positive correlation can be supply of good with respect to the price of good. As the price increase, the suppliers tend to supply more of the product.
This graph above shows that the variables are perfectly negatively correlated as an increase in the value of the independent variable causes the value of dependent variable to decrease by the slope of the equation. An example of a perfectly negative correlation can be the demand of good with respect to the price of good. As the price increase, the consumers tend to less of the product.
The correlation between two variables is weak if they are close to zero whether they are negative or positive. GDP and interest rates of the economy are correlated but the magnitude of correlation is very low. On the other side, there might be a strong correlation between smoking and lung cancer.
1) As per the government policy, the federal government subsidizes or gives free school lunches to students whose family income is below a certain level, usually close to the poverty level. So higher the number of eligible students for lunch, higher will be the amount of funding received by the school
WidgeCorp can use this correlation analysis to effectively market its cold drinks in public schools. Since we know that there is a positive correlation between free school lunches and poverty level therefore WidgeCorp can approach the government to offer quality foods at affordable rates. There will be a stiff competition on the basis of price therefore as a case of bulk discounting WidgeCorp should offer quality foods to Government on competitive ...
Cite this document
(“Concept of correlation Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/412942-concept-of-correlation
(Concept of Correlation Essay Example | Topics and Well Written Essays - 500 Words)
“Concept of Correlation Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.net/miscellaneous/412942-concept-of-correlation.
Some often used techniques to establish linear correlation are: 1. Scatter-plot: the simplest method is to plot the scores on a graph to identify the extent of covariance between scores. The biggest problem with using only a scatter-plot is that while it does tell us of the direction of the relationship; it gives us no information about its strength and significance.
The first idea pertains to progressivism while the second as nominalism. Others defined essentialism as something that is innate to a person o an object due to its facticity or due to its universal validity. Thus, the quality is inherent to an object or to a person that is shaped by invariant truths of social reality or phenomena.
In such a case, we will interview a few students selected randomly from the student population regarding their television watching patterns, then compare these values with their GPA scores using appropriate correlation tests. Generally, we expect a negative correlation between the two variables since GPA scores are seen to be low among students who spend more hours watching television and vice versa.
Following is a correlational study that aimed to find a link between self-esteem and memory retrieval in individuals. Twenty-five undergraduate students, from the Psychology department, aged between 20-30 years were used for the experiment where 16 were females and 9 were males.
Correlation may be of different types. The different types of correlation are explained below.
Positive correlation: A positive correlation between two variable means that they behave in the similar way in their movement. "Positive correlation indicates that both variables increase or decrease together." (Karthik, 2005).
It was expected to find strong positive correlation between CEO salaries and organization total revenue. Statistical analysis was conducted to conclude evidence in this relationship.
The above table demonstrates the average
As one method, correlation and covariance matrices may be derived from numeric data columns in which there are two options: storing computation results in an auto-generated worksheet or exhibiting outcomes in a tabular form which may be filled in by color-coded values. This is limited, however, to storage in a single worksheet.
Caring theory aims to communicate the caring phenomenon. The concept, action, and intent of caring relates with the nursing practice and most of the nurses focus on it. Caring has its roots on the cultural and socio-political phenomenon in the entire philosophical
6 Pages(1500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Concept of correlation for FREE!