BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS ANALYTICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Coefficient range:+ or-0.21 to + or-0.40
A
slight/negligible
B
small
C
moderate
D
very strong
Explanation: 

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.

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