Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Management Expert

Solutions:

A. Correlation coefficient

Correlation coefficient is the value that gives a statistical relationship between two given variables, or in other words a value that quantifies the type of relationship that exist between any two given variables.

B. Scatter plot

This is a diagram/graph that demonstrates the relationship that exists between two sets of data. The set of data contained in the scatter plot can be used to get a mathematical correlation between two variables. A scatter plot can also be used to demonstrate nonlinear relationship between two variables., This can be done by fitting a line in the plotted data. The scatter plot can be used to suggest various types of correlations and also the confidence intervals. Both continuous variables can be used in a scatter plot.

C. Bivariate relationship

Bivariate relationship means an analysis that is used to find out the relationship between exact two variables. Bivariate relationship is helpful when determining the simple hypothesis test of association.

2. Identify when to use the Pearson r.

Pearson r is used when one is need of determining the strength and direction of a linear relationship that exist between two given variables. In most cases Pearson moment correlation is abbreviated as r which ranges from -1 to +1, If r = -1, then there exist a negative relationship, if r = 0, then there is no relationship and if r= +1, then there exist a positive perfect relationship between given variables.

3. Identify when to use Spearman's rho.

This is a type of rank correlation that is used when one wishes to determine/measure the degree(how well) the correlation/relationship between two variables in which it can be described by the use of a monotonic function.

It is given by: r = 1 - [6∑d2/ n(n2-1)]

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M92544239
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Business Management

Qualitative analysis for managerscan either influence

Qualitative Analysis for Managers Can either Influence Diagrams, Influence Tables, and Decision Trees or all of these techniques better structure the decision making process? Why or why not? Cite examples when this might ...

Analyze the time complexity of the following ternary search

Analyze the time complexity of the following ternary search algorithm: identify two points that subdivide a sorted array into three parts. If the given number is equal to one of these two points, we are done. Otherwise, ...

Instructors use the grading system to assign the final

Instructors use the Grading System to assign the final grades based on the scores received by the students during the semester. The Grading System interfaces with the Student Record System (to get the class roster). The ...

What are the driving forces that in your opinion will

What are the driving forces that, in your opinion, will change global pricing strategies in the airline industry the most during the next ten years?

Identify two human resource stakeholders such as managers

Identify two human resource stakeholders (such as managers, employees, other businesses in the industry, etc.) in the job analysis process, and discuss what they contribute to the process and how the information they pro ...

If getting tired is associated with workload stressors then

If "getting tired" is associated with workload stressors, then how can emerging leaders balance the demands on their personnel? Secondly, to what extent do you experience "fatigue" associated with this same phenomenon an ...

Banana computer company sells banana computers both in the

Banana Computer Company sells Banana Computers both in the domestic and foreign markets. Because of the differences in the power supplies, a Banana computer purchased in the market cannot be used in the other market. Thi ...

Although new zealand is a member of trans-pacific

Although New Zealand is a member of Trans-Pacific Partnership, its economy has fluctuated many times in the past due to global market. How can they develop a global partnership for the development of a better economy in ...

According to research which of the following is considered

According to research, which of the following is considered the most stressful life event?

With an emphasis on some of the security ethical and

With an emphasis on some of the security, ethical, and societal challenges of IT in the business world. Please discuss a real-world example/application of an organization that has dealt with crimes including hacking, cyb ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As