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...
Quantitative Methods
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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What is time series analysis?
Time Series Analysis “A time series is a set of statistical observations arranged in chronological order.” “A time series consists of statistical data which are...
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What is the utility of time series analysis?
It helps in understanding past behavior- by observing data over a period of time one can easily understand what changes have been taken place in...