Correlation
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That is simply not true. Consider the coordinates of a circle. There is obviously a very strong relationship between the x coordinate and the y coordinate. But the correlation is not just small, but 0.
The correlation between two variables is a measure of the linear relationship between them. But there can be non-linear relationships which will not necessarily be reflected by any correlation.
H
so you know the relationship between the 2 variables
Some people will give the answer "correlation". But that is not correct for the following reason: Consider the coordinates of a circle. There is obviously a very strong relationship between the x coordinate and the y coordinate. The correlation between the two is not just small, but 0. The correlation between two variables is a measure of the linear relationship between them. But there can be non-linear relationships which will not necessarily be reflected by any correlation.
Line graph
Viewing the data is an easy way to see some of their characteristics such as trends, seasonality, outliers, relationship between variables (linear, quadratic, power etc).
A measure of association. You might be thinking of the correlation coefficient in particular.
graph is a quick picture of relationship between two variables
A scatter plot.
so you know the relationship between the 2 variables
Some people will give the answer "correlation". But that is not correct for the following reason: Consider the coordinates of a circle. There is obviously a very strong relationship between the x coordinate and the y coordinate. The correlation between the two is not just small, but 0. The correlation between two variables is a measure of the linear relationship between them. But there can be non-linear relationships which will not necessarily be reflected by any correlation.
Qualitative Data
The explanation of data is called a theory.
Line Graph
Line graph
It suggests that there is very little evidence of a linear relationship between the variables.
if it passes through (0,0) then it is a direct variation
Economic forecasting models predominantly use time-series data, where the values of the variables change over time.
The Correlation Coefficient computed from the sample data measures the strength and direction of a linear relationship between two variables. The symbol for the sample correlation coefficient is r. The symbol for the population correlation is p (Greek letter rho).