## Totally Kickass Study Guide For Quantitative Methods in Business – I (QMB-I) Exam Introduction: Advertisement Quantitative Methods in Business also known as Business Statistics is a source of relief for all lovers of practical subjects. Along with Financial Accountancy this is the second subject in your Sem 1 that needs a lot of practice but is also a lot of fun to...

## What are the methods of correlation?

METHODS OF CORRELATION- Scatter diagram method Graphic method Karl Pearson’s coefficient of correlation Rank correlation method

## What is the significance of correlation?

Significance of correlation Most of the variables show some kind of relationship like there is relationship between price and supply and income and expenditure. With the help of correlation we can find the degree of relationship between the variables. When we know the degree of relationship we can know...

## What is correlation analysis?

Correlation analysis deals with the association between two or more variables. If two or more quantities vary in sympathy so that movements in one tend to be accompanied by corresponding movements in the other then they are said to be correlated. Thus correlation is a statistical device which helps...

## Scatter diagram method of correlation

Scatter diagram method- This is the simplest device for ascertaining whether two variables are related is to prepare a dot chart called scatter diagram. The given data are plotted on a graph paper in the form of dots. Merits and demerits of the method;- Merits– It is the simplest...

## Linear and non linear correlation

Linear and non linear correlation It is based upon the constancy of the ratio of change between the variables. If the amount of change in one variables tends to bear constant ratio to the amount of change in other variable then it is called linear correlation or vice versa.

## Simple partial and multiple correlation

Simple partial and multiple correlation This depends upon number of variable studied. When only two problems are studied then it is simple correlation. When three or more variables are studied then this is multiple or partial correlation. In multiple correlations three or more variables are studied simultaneously. In partial...

## Positive or negative correlation

Positive or negative correlation This depend upon the direction of series. If both variable are increasing or decreasing in same direction than this is positive correlation and if they are varying in opposite directions then they are having negative correlation. If one series is increasing and other is also...

## What is regression analysis?

The analysis of coefficient of correlation finds the closeness of the variables but the regression analysis helps us to find out one variable as we know the other variable. The given variable is independent variable and other which has to find out is called dependent variable. Definitions– “regression is...

## Difference between correlation and regression

Difference between correlation and regression- Whereas coefficient is a measure of degree pf co variability between x and y the objective of regression is to find out the nature of relationship between the variables. Correlation is merely a tool of ascertaining the degree of relationship between two variables and...

BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

Disclaimer: We are not affiliated with any university or government body in anyway.

©2019 BMS - Bachelor of Management Studies Community 