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Product moment correlation coefficient may be defined as the ratio of
  • a)
    The product of standard deviations of the two variables to the covariance between them
  • b)
    The covariance between the variables to the product of the variances of them
  • c)
    The covariance between the variables to the product of their standard deviations
  • d)
    Either (b) or (c)
Correct answer is option 'C'. Can you explain this answer?
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Product moment correlation coefficient may be defined as the ratio ofa...
 
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Product moment correlation coefficient may be defined as the ratio ofa...
Product Moment Correlation Coefficient:

The product moment correlation coefficient is a statistical measure that measures the strength and direction of the linear relationship between two variables. It is represented by the symbol r.

Formula:

The formula for calculating the product moment correlation coefficient is:

r = Covariance(X,Y) / (SD(X) * SD(Y))

Where,

Covariance(X,Y) = Covariance between X and Y
SD(X) = Standard Deviation of X
SD(Y) = Standard Deviation of Y

Explanation of Options:

a) The product of standard deviations of the two variables to the covariance between them

This option is not correct as it does not represent the formula for calculating the product moment correlation coefficient.

b) The covariance between the variables to the product of the variances of them

This option is also not correct as it does not represent the formula for calculating the product moment correlation coefficient.

c) The covariance between the variables to the product of their standard deviations

This option is correct as it represents the formula for calculating the product moment correlation coefficient.

d) Either (b) or (c)

This option is not correct as option b does not represent the formula for calculating the product moment correlation coefficient.

Conclusion:

Hence, we can conclude that the correct answer is option 'C', which represents the formula for calculating the product moment correlation coefficient.
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Product moment correlation coefficient may be defined as the ratio ofa)The product of standard deviations of the two variables to the covariance between themb)The covariance between the variables to the product of the variances of themc)The covariance between the variables to the product of their standard deviationsd)Either (b) or (c)Correct answer is option 'C'. Can you explain this answer?
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Product moment correlation coefficient may be defined as the ratio ofa)The product of standard deviations of the two variables to the covariance between themb)The covariance between the variables to the product of the variances of themc)The covariance between the variables to the product of their standard deviationsd)Either (b) or (c)Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Product moment correlation coefficient may be defined as the ratio ofa)The product of standard deviations of the two variables to the covariance between themb)The covariance between the variables to the product of the variances of themc)The covariance between the variables to the product of their standard deviationsd)Either (b) or (c)Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Product moment correlation coefficient may be defined as the ratio ofa)The product of standard deviations of the two variables to the covariance between themb)The covariance between the variables to the product of the variances of themc)The covariance between the variables to the product of their standard deviationsd)Either (b) or (c)Correct answer is option 'C'. Can you explain this answer?.
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