BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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slight/negligible
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small
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moderate
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very strong
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Detailed explanation-1: -Very weak-or no association.-0.2 to – 0.4. Weak-association.-0.4 to-0.6. Moderate-association.
Detailed explanation-2: -For this kind of data, we generally consider correlations above 0.4 to be relatively strong; correlations between 0.2 and 0.4 are moderate, and those below 0.2 are considered weak.
Detailed explanation-3: -For example, a correlation coefficient of 0.2 is considered to be negligible correlation while a correlation coefficient of 0.3 is considered as low positive correlation (Table 1), so it would be important to use the most appropriate one.
Detailed explanation-4: -The most common interpretation of the coefficient of determination is how well the regression model fits the observed data. For example, a coefficient of determination of 60% shows that 60% of the data fit the regression model. Generally, a higher coefficient indicates a better fit for the model.