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Great advantage of _________ is that it can be used to rank attributes which can not be expressed by way of numerical value.
- a)Concurrent correlation
- b)Regression
- c)Rank correlation
- d)None
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Great advantage of _________ is that it can be used to rank attributes...
Rank Correlation
Rank correlation is a statistical measure that determines the degree to which two variables are related to each other, considering their ranking order instead of their numerical values. It is used to analyze the correlation between two sets of data that are ranked in order, but may not necessarily have a numerical relationship.
Advantage of Rank Correlation
One of the great advantages of rank correlation is that it can be used to rank attributes that cannot be expressed by way of a numerical value. For example, if we want to rank the preference of people for different colors, we cannot assign numerical values to colors, as they are subjective. However, we can rank them in order of preference, which can be analyzed using rank correlation.
Another advantage of rank correlation is that it is less sensitive to outliers compared to other correlation measures like Pearson's correlation coefficient. This is because the ranking of data is less likely to be affected by extreme values.
Conclusion
In conclusion, rank correlation is a useful statistical measure that can be used to analyze the relationship between two sets of data that are ranked in order. Its advantage lies in its ability to rank attributes that cannot be expressed by way of numerical values, making it a useful tool in social and behavioral sciences.
Rank correlation is a statistical measure that determines the degree to which two variables are related to each other, considering their ranking order instead of their numerical values. It is used to analyze the correlation between two sets of data that are ranked in order, but may not necessarily have a numerical relationship.
Advantage of Rank Correlation
One of the great advantages of rank correlation is that it can be used to rank attributes that cannot be expressed by way of a numerical value. For example, if we want to rank the preference of people for different colors, we cannot assign numerical values to colors, as they are subjective. However, we can rank them in order of preference, which can be analyzed using rank correlation.
Another advantage of rank correlation is that it is less sensitive to outliers compared to other correlation measures like Pearson's correlation coefficient. This is because the ranking of data is less likely to be affected by extreme values.
Conclusion
In conclusion, rank correlation is a useful statistical measure that can be used to analyze the relationship between two sets of data that are ranked in order. Its advantage lies in its ability to rank attributes that cannot be expressed by way of numerical values, making it a useful tool in social and behavioral sciences.
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Great advantage of _________ is that it can be used to rank attributes which can not be expressed by way of numerical value.a)Concurrent correlationb)Regressionc)Rank correlationd)NoneCorrect answer is option 'C'. Can you explain this answer?
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Great advantage of _________ is that it can be used to rank attributes which can not be expressed by way of numerical value.a)Concurrent correlationb)Regressionc)Rank correlationd)NoneCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Great advantage of _________ is that it can be used to rank attributes which can not be expressed by way of numerical value.a)Concurrent correlationb)Regressionc)Rank correlationd)NoneCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Great advantage of _________ is that it can be used to rank attributes which can not be expressed by way of numerical value.a)Concurrent correlationb)Regressionc)Rank correlationd)NoneCorrect answer is option 'C'. Can you explain this answer?.
Great advantage of _________ is that it can be used to rank attributes which can not be expressed by way of numerical value.a)Concurrent correlationb)Regressionc)Rank correlationd)NoneCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Great advantage of _________ is that it can be used to rank attributes which can not be expressed by way of numerical value.a)Concurrent correlationb)Regressionc)Rank correlationd)NoneCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Great advantage of _________ is that it can be used to rank attributes which can not be expressed by way of numerical value.a)Concurrent correlationb)Regressionc)Rank correlationd)NoneCorrect answer is option 'C'. Can you explain this answer?.
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