16 Dec 2022

79

Correlation coefficients: everything you need to know

Format: APA

Academic level: University

Paper type: Essay (Any Type)

Words: 315

Pages: 1

Downloads: 0

Correlation coefficients are the statistical values used to measure the strength or weakness of association between two variables. Furthermore, coefficients can determine the degree and direction of the relationship that exists between different variables provided in a given equation ( Heo et al., 2008) . In most cases, the correlation coefficient is denoted by r and can be any number which can either be positive or negative. 

In linear correlation analysis, the coefficient is used to serve different purposes. One use of the coefficient in the linear correlation analysis is to determine the direction of movement between the variables. With this regards, the value of the correlation coefficient can either be positive or negative. The correlation coefficient with a negative value shows that the variables are negatively related and moves in opposite direction. In other words, when one variable is increasing, the other variable will be decreasing. On the other hand, the correlation coefficient with a positive value indicates that there is a positive relationship between the variables ( Johnson & Wichern, 2002) . This means that the variables are moving in the same direction such that when one variable is increasing the other variable is also increasing. 

It’s time to jumpstart your paper!

Delegate your assignment to our experts and they will do the rest.

Get custom essay

Another use of the correlation coefficient is to determine the strength of association between the variables under investigation. It is important to note that the value of correlation coefficients often range between -1 and + 1 ( Johnson & Wichern, 2002) . Based on this range, it is possible to determine the strength of the relationship between the variables. A correlation coefficient with a value that approaches +1 demonstrates a strong positive association between the variables whiles the coefficient value that is close to -1 show a strong negative relationship between the variables. On the other hand, the value of the correlation coefficient that is close to zero and negative indicates that there is a weak negative relationship between the variable while the coefficient value that is close to zero and positive shows a weak positive correlation. 

References 

Heo, J. H., Kho, Y. W., Shin, H., Kim, S., & Kim, T. (2008). Regression equations of probability plot correlation coefficient test statistics from several probability distributions.   Journal of Hydrology ,   355 (1), 1-15. 

Johnson, R. A., & Wichern, D. W. (2002).   Applied multivariate statistical analysis   (Vol. 5, No. 8). Upper Saddle River, NJ: Prentice hall. 

Illustration
Cite this page

Select style:

Reference

StudyBounty. (2023, September 16). Correlation coefficients: everything you need to know.
https://studybounty.com/correlation-coefficients-everything-you-need-to-know-essay

illustration

Related essays

We post free essay examples for college on a regular basis. Stay in the know!

17 Sep 2023
Statistics

Scatter Diagram: How to Create a Scatter Plot in Excel

Trends in statistical data are interpreted using scatter diagrams. A scatter diagram presents each data point in two coordinates. The first point of data representation is done in correlation to the x-axis while the...

Words: 317

Pages: 2

Views: 186

17 Sep 2023
Statistics

Calculating and Reporting Healthcare Statistics

10\. The denominator is usually calculated using the formula: No. of available beds x No. of days 50 bed x 1 day =50 11\. Percentage Occupancy is calculated as: = =86.0% 12\. Percentage Occupancy is calculated...

Words: 133

Pages: 1

Views: 150

17 Sep 2023
Statistics

Survival Rate for COVID-19 Patients: A Comparative Analysis

Null: There is no difference in the survival rate of COVID-19 patients in tropical countries compared to temperate countries. Alternative: There is a difference in the survival rate of COVID-19 patients in tropical...

Words: 255

Pages: 1

Views: 250

17 Sep 2023
Statistics

5 Types of Regression Models You Should Know

Theobald et al. (2019) explore the appropriateness of various types of regression models. Despite the importance of regression in testing hypotheses, the authors were concerned that linear regression is used without...

Words: 543

Pages: 2

Views: 174

17 Sep 2023
Statistics

The Motion Picture Industry - A Comprehensive Overview

The motion picture industry is among some of the best performing industries in the country. Having over fifty major films produced each year with different performances, it is necessary to determine the success of a...

Words: 464

Pages: 2

Views: 85

17 Sep 2023
Statistics

Spearman's Rank Correlation Coefficient (Spearman's Rho)

The Spearman’s rank coefficient, sometimes called Spearman’s rho is widely used in statistics. It is a nonparametric concept used to measure statistical dependence between two variables. It employs the use of a...

Words: 590

Pages: 2

Views: 308

illustration

Running out of time?

Entrust your assignment to proficient writers and receive TOP-quality paper before the deadline is over.

Illustration