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What is the quickest method to find correlation between two variables?
- a)Scatter diagram
- b)Method of concurrent deviation
- c)Method of rank correlation
- d)Method of product moment correlation
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
What is the quickest method to find correlation between two variables?...
Method of Concurrent Deviation
The quickest method to find correlation between two variables is the method of concurrent deviation. This method involves finding the deviation of each value of one variable from its mean and the deviation of each value of the other variable from its mean. The product of these deviations is then calculated for each pair of values and the sum of these products is divided by the product of the standard deviations of the two variables.
Steps involved in the Method of Concurrent Deviation:
1. Calculate the mean of both variables.
2. Calculate the deviation of each value of one variable from its mean.
3. Calculate the deviation of each value of the other variable from its mean.
4. Multiply the deviations of each pair of values.
5. Add up all the products obtained in step 4.
6. Divide the result obtained in step 5 by the product of the standard deviations of the two variables.
Formula for the Method of Concurrent Deviation:
r = (∑xy) / (√∑x² × √∑y²)
where,
r = correlation coefficient
x = deviation of x from its mean
y = deviation of y from its mean
Advantages of the Method of Concurrent Deviation:
1. It is a quick and easy method to calculate correlation.
2. It is useful when the data is in a small set.
3. It does not require the calculation of ranks or the construction of a scatter diagram.
Disadvantages of the Method of Concurrent Deviation:
1. It is less accurate than other methods of correlation.
2. It cannot be used when the data is in a large set.
3. It assumes that the relationship between the two variables is linear.
The quickest method to find correlation between two variables is the method of concurrent deviation. This method involves finding the deviation of each value of one variable from its mean and the deviation of each value of the other variable from its mean. The product of these deviations is then calculated for each pair of values and the sum of these products is divided by the product of the standard deviations of the two variables.
Steps involved in the Method of Concurrent Deviation:
1. Calculate the mean of both variables.
2. Calculate the deviation of each value of one variable from its mean.
3. Calculate the deviation of each value of the other variable from its mean.
4. Multiply the deviations of each pair of values.
5. Add up all the products obtained in step 4.
6. Divide the result obtained in step 5 by the product of the standard deviations of the two variables.
Formula for the Method of Concurrent Deviation:
r = (∑xy) / (√∑x² × √∑y²)
where,
r = correlation coefficient
x = deviation of x from its mean
y = deviation of y from its mean
Advantages of the Method of Concurrent Deviation:
1. It is a quick and easy method to calculate correlation.
2. It is useful when the data is in a small set.
3. It does not require the calculation of ranks or the construction of a scatter diagram.
Disadvantages of the Method of Concurrent Deviation:
1. It is less accurate than other methods of correlation.
2. It cannot be used when the data is in a large set.
3. It assumes that the relationship between the two variables is linear.
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What is the quickest method to find correlation between two variables?...
METHOD OF CONCURRENT DEVIATION IS THE QUICKEST METHOD BECAUSE IT DOES NOT REQUIRE ANY VALUES FOR CALCULATION AND REQUIRES ONLY SIGNS OF VALUES
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What is the quickest method to find correlation between two variables?a)Scatter diagramb)Method of concurrent deviationc)Method of rank correlationd)Method of product moment correlationCorrect answer is option 'B'. Can you explain this answer?
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