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| − | The coefficient of correlation is a value between -1 and 1 that indicates how strong the relationship between two variables is.
| + | Coefficient of correlation |
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| − | A value of -1 indicates that there is a positive correlation between the independent and dependent variable. It means whenever there is an increase in the independent variable there is decrease in the dependent one.
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| − | A value of 1 indicates that there is a positive correlation between the independent and dependent variable. It means whenever there is an increase in the independent variable there is also an increase in the dependent one.
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| − | A value of 0 means that there is no identifiable linear relationship between the independent and dependent variable.
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| − | [[Pearson's correlation coefficient|Pearson's correlation coefficient]] is the most widely used formula to calculate the correlation coefficient for cardinal data.
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| − | Part of [[M7-Quantitative Decision Methods-S7 - Correlation and Time series|M7-Quantitative Decision Methods-S7 - Correlation and Time series]]
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| − | See also: [[Dependent variable|Dependent variable]]
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| − | See also: [[Independent variable|Independent variable]]
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| | [[Category:mbi]] | | [[Category:mbi]] |
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Revision as of 19:18, 27 August 2020
Coefficient of correlation
