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Home » Statistics Homework Help » Correlation Regression Analysis
Correlation Regression Analysis
Correlation Regression Analysis, Correlation Analysis

Some important definitions of correlation are given below:

"correlation analysis deals with the association between two or more variables. If two or more quantities very in sympathy so that movements in one tend to be accompanied by corresponding movements in the other (so then they are said to be correlated. When the relationship is of a quantitative nature, the appropriate statistical tool for discovering and measuring the relationship and expressing it in brief formula is known as corrosion. Correlation analysis attempts to determine the degree of relationship’ between variables. Correlation is an analysis of the co variation between two or more variables."

Thus correlation is a statistical device which helps us in analysing the co variation of two or more variables.

Correlation analysis contributes to the understanding of economic behavior, aids in locating the critically important variables on which others depend, may reveal to the economist the connection by which disturbances spread and suggest to him the paths through which stabilizing forces may become effective.

In business, correlation analysis enables the executive to estimate costs, sales prices and other variables on the basis of some other series with which these costs, sales or prices may be functionally related. Some of the guesswork can be removed from decisions when the relationship between a variable to be estimated and the one or more other variables on which it depends are close and reasonably invariant.

Regression analysis

The dictionary meaning of the term regression’ is the scat of returning or going back. The term regression’ was first used by Sir Francis Galton (1822-1910) in 1877 while studying the relationship between the height of fathers and send. This term was introduced by him in the paper ‘regression towards mediocrity in hereditary stature’. His study of height of about one thousand fathers and some revealed a very intrusting relationship, i.e. tall fathers tend to have tall sons and short fathers short sons, but the average height of the sons of a group of tall fathers is less than that of the fathers than that of the fathers. The line describing the tendency to regress or going back was called by Galton a regression line.’ The term is still used to describe that line drawn for a group of points to represent the trend present, but it no longer necessarily carries the original implication of ‘’stepping back’’ that Galton the term estimating line instead of regression line because the expression estimating line is mo
re clarificatory in character.

Some of its main topics are:

1. Coefficient determination
2. Concurrent deviation method
3. Correlation causation
4. Correlation inshort term
5. Correlation grouped data
6. Regression analysis
7. karl pearson's coefficient correlation
8. Lag lead correlation
9. Probable error
10. Rank correlation coefficient
11. Regression equation
12. Correlation significance
13. Regression uses

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