Question

In: Statistics and Probability

1.         Fill in the following chart for the correlation coefficient. No credit will be given unless...

1.         Fill in the following chart for the correlation coefficient. No credit will be given unless the entire chart is filled in.

Name

Symbol

What it Tells Us

Abs. or Rel.?
(give units if absolute)

Boundaries

What Extremes Signify

Population Correlation Coefficient


Sample Correlation

Coefficient


2.         Fill in the following chart for the coefficient of determination. No credit will be given unless the entire chart is filled in.

Name

Symbol

What it Tells Us

Abs. or Rel.?
(give units if absolute)

Boundaries

What Extremes Signify

Population

Coefficient of Determination


Sample Coefficient of Determination


Solutions

Expert Solution

Name Symbol What it tells us Abs or rel. Boundaries What Extremes Signify

Population Correlation Coefficient

Correlation coefficients measure the strength of association between two variables in the population Relative -1 to 1

If take value -1 or 1 then there is high degree positive or negative relationship between variables.

If it is zero then there is no relation

Sample Correlation

Coefficient

r Correlation coefficients measure the strength of association between two variables in the sample Relative -1 to 1

If r take value -1 or 1 then there is high degree positive or negative relationship between variables.

If it is zero then there is no relation

Name

Symbol

What it Tells Us

Abs. or Rel.?
(give units if absolute)

Boundaries

What Extremes Signify

Population

Coefficient of Determination

R2

It tells the proportion of the variance in the dependent variable of population that is predictable from the independent variable in the population. Relative 0 to 1
  • An R2 of 0 means that the dependent variable cannot be predicted from the independent variable.
  • An R2 of 1 means the dependent variable can be predicted without error from the independent variable.

Sample Coefficient of Determination

r2 It tells us the proportion of the variance in the dependent variable of the sample that is predictable from the independent variable of sample Relative 0 to 1
  • An r2 of 0 means that the dependent variable cannot be predicted from the independent variable.
  • An r2 of 1 means the dependent variable can be predicted without error from the independent variable.

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