BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -A correlation is a statistical measurement of the relationship between two variables. 2 Remember this handy rule: The closer the correlation is to 0, the weaker it is. The closer it is to +/-1, the stronger it is.
Detailed explanation-2: -When r (the correlation coefficient) is near 1 or −1, the linear relationship is strong; when it is near 0, the linear relationship is weak.
Detailed explanation-3: -The strongest linear relationship is indicated by a correlation coefficient of-1 or 1. The weakest linear relationship is indicated by a correlation coefficient equal to 0. A positive correlation means that if one variable gets bigger, the other variable tends to get bigger.
Detailed explanation-4: -A correlation coefficient of zero, or close to zero, shows no meaningful relationship between variables. A coefficient of-1.0 or +1.0 indicates a perfect correlation, where a change in one variable perfectly predicts the changes in the other.
Detailed explanation-5: -It is expressed as a positive ornegative number between-1 and 1. The value of the number indicates the strengthof the relationship: r = 0 means there is no correlation.