![]() ![]() The Karl Pearson Coefficient of Correlation formula is expressed as Such a coefficient correlation is represented as ‘r’. The Karl Pearson correlation coefficient method is quantitative and offers numerical value to establish the intensity of the linear relationship between X and Y. It is one of the three most potent and extensively used methods to measure the level of correlation, besides the Scatter Diagram and Spearman’s Rank Correlation. This method is also known as the Product Moment Correlation Coefficient and was developed by Karl Pearson. What is Karl Pearson’s Coefficient of Correlation? Now that we have refreshed our memory of these basics, let’s move on to Karl Pearson Coefficient of Correlation. For instance, an increase in height has no impact on one’s intelligence. There is no relationship between the variables in this case. For example, when the price of a commodity increases its demand decreases. Here, the direction of change between X and Y variables is opposite. ![]() For instance, an increase in the duration of a workout leads to an increase in the number of calories one burns. In this case, the direction of change between X and Y is the same. With the help of correlation, you can measure the degree up to which such a change can impact the other variables.ĭepending on the direction of the relationship between variables, correlation can be of three types, namely – It serves as a statistical tool that helps to analyze and in turn, measure the degree of the linear relationship between the variables.įor example, a change in the monthly income (X) of a person leads to a change in their monthly expenditure (Y). The correlation coefficient can be defined as a measure of the relationship between two quantitative or qualitative variables, i.e., X and Y. What do You mean by Correlation Coefficient?īefore delving into details about Karl Pearson Coefficient of Correlation, it is vital to brush up on fundamental concepts about correlation and its coefficient in general. ![]() But is it really useful for any economic calculation? Let, us find and delve into this topic to get more detailed information on the subject matter – Karl Pearson Coefficient of Correlation. This is a quantitative method that offers the numeric value to form the intensity of the linear relationship between the X and Y variable. The Karl Pearson coefficient is defined as a linear correlation that falls in the numeric range of -1 to +1. Statistics is majorly dependent on Karl Pearson Coefficient Correlation method. The study of Karl Pearson Coefficient is an inevitable part of Statistics. ![]()
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