Open App

Commerce Exam > Commerce Notes > Economics Class 11 > Short Questions with Answers: Correlation - 2

Class 11 Economics Short Questions with Answers: Correlation - 2

Q: 2. How is correlation coefficient calculated?

Ans. The correlation coefficient, denoted by 'r,' is calculated using the formula r = (Σ((xi - x̄)(yi - ȳ))) / √(Σ((xi - x̄)^2) * Σ((yi - ȳ)^2)), where xi and yi are the individual values of the two variables, x̄ and ȳ are their respective means, and Σ represents the sum of the values. The resulting coefficient ranges from -1 to +1, where -1 indicates a perfect negative correlation, +1 indicates a perfect positive correlation, and 0 indicates no correlation.

Q.16. What is the nature of correlation if the value of r is –1?
Ans. When r is –1, there is perfect negative correlation between variables.

Q.17. What is the value of r if the two variables are not related?
Ans. When the two variables are not related, r = 0.

Q.18. State the merits of Karl Pearson’s correlation coefficient.
Ans. The merits of Karl Pearson’s correlation coefficient are:
(i) It is a real measure of correlation coefficient as it is based on arithmetic mean and standard deviation.
(ii) It finds out not only the direction but also the actual degree of correlation between variables.

Q.19. What are the demerits of Karl Pearson’s correlation coefficient.
Ans. The demerits of Karl Pearson’s correlation coefficient are:
(i) The values of correlation coefficient are unduly affected by extreme values.
(ii) The assumption that there is a linear relation between variables is not always true.
(iii) The analysis of correlation coefficient requires a lot of care as there is a possibility of misinterpretation of results.
(iv) It involves long mathematical calculation and hence, is a time-consuming method.

Q.20. How does Spearman’s rank correlation measure relation between variables?
Ans. Spearman’s rank correlation measures the linear relation between ranks assigned to individual items according to their attributes.

Q.21. Name some qualitative variables.
Ans. Examples of qualitative variables include beauty, wisdom, bravery, dedication, honesty, etc.

Q.22. Who developed Spearman’s rank correlation?
Ans. Spearman’s rank correlation was developed by British psychologist C.E. Spearman.

Q.23. When is rank correlation preferred to Pearsonian coefficient?
Ans. Rank correlation is preferred to Pearsonian coefficient when extreme values are present.

Q.24. What are the merits of rank correlation coefficient?
Ans. The merits of rank correlation coefficient are:
(i) It is easier to calculate and understand correlation using this method.
(ii) This method is the most appropriate for the calculation of correlation in case of qualitative and irregular facts.
(iii) This method can be employed for finding correlation even when the actual data is not given. Correlation can be found by simply using the ranks assigned to the values.

Q.25. Write the demerits of rank correlation coefficient.
Ans. The demerits of rank correlation coefficient are:
(i) This method is not so definite.
(ii) This method cannot be used when number of items is very high.
(iii) This method is applicable only to individual series and not for frequency distributions.

The document Class 11 Economics Short Questions with Answers: Correlation - 2 is a part of the Commerce Course Economics Class 11.

All you need of Commerce at this link: Commerce

	Economics Class 11 58 videos\|215 docs\|44 tests

Economics Class 11

58 videos|215 docs|44 tests

Join Course for Free

Top Courses for Commerce

View all

FAQs on Class 11 Economics Short Questions with Answers: Correlation - 2

1. What is correlation and why is it important in statistics?

Ans. Correlation is a statistical measure that indicates the degree to which two variables are related. It measures the strength and direction of the linear relationship between the variables. Correlation is important in statistics as it helps in understanding the relationship between variables, making predictions, and analyzing the dependency between different factors.

2. How is correlation coefficient calculated?

Ans. The correlation coefficient, denoted by "r," is calculated using the formula r = (Σ((xi - x̄)(yi - ȳ))) / √(Σ((xi - x̄)^2) * Σ((yi - ȳ)^2)), where xi and yi are the individual values of the two variables, x̄ and ȳ are their respective means, and Σ represents the sum of the values. The resulting coefficient ranges from -1 to +1, where -1 indicates a perfect negative correlation, +1 indicates a perfect positive correlation, and 0 indicates no correlation.

3. Can correlation imply causation?

Ans. No, correlation does not imply causation. Correlation only shows the relationship between variables but does not determine if one variable causes the change in another. It is possible to have a strong correlation between two variables, but it doesn't necessarily mean that one variable is causing the change in the other. Causation requires further research and analysis to establish a cause-and-effect relationship.

4. What are the limitations of correlation analysis?

Ans. Correlation analysis has certain limitations. Firstly, it only measures the linear relationship between variables and may not capture other types of relationships. Secondly, correlation does not provide information about the strength of the relationship in terms of magnitude. Additionally, outliers or extreme values can significantly influence the correlation coefficient. Lastly, correlation does not provide information on the direction of the relationship or whether it is influenced by other variables.

5. How can correlation be interpreted?

Ans. Correlation can be interpreted based on the value of the correlation coefficient (r). If r is close to +1, it indicates a strong positive correlation, meaning that as one variable increases, the other variable tends to increase as well. A value close to -1 indicates a strong negative correlation, where one variable increases while the other decreases. A value close to 0 suggests no or weak correlation, meaning the variables are unrelated or have a weak linear relationship. The magnitude of r also indicates the strength of the correlation, with larger values representing stronger relationships.

Related Exams

Commerce Grade 11 Humanities/Arts A Level Year 13

About this Document

	4.78/5 Rating
	Dec 22, 2024 Last updated

Document Description: Short Questions with Answers: Correlation - 2 for Commerce 2024 is part of Economics Class 11 preparation. The notes and questions for Short Questions with Answers: Correlation - 2 have been prepared according to the Commerce exam syllabus. Information about Short Questions with Answers: Correlation - 2 covers topics like and Short Questions with Answers: Correlation - 2 Example, for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Short Questions with Answers: Correlation - 2.

Introduction of Short Questions with Answers: Correlation - 2 in English is available as part of our Economics Class 11 for Commerce & Short Questions with Answers: Correlation - 2 in Hindi for Economics Class 11 course. Download more important topics related with notes, lectures and mock test series for Commerce Exam by signing up for free. Commerce: Class 11 Economics Short Questions with Answers: Correlation - 2

Description

Full syllabus notes, lecture & questions for Class 11 Economics Short Questions with Answers: Correlation - 2 - Commerce | Plus excerises question with solution to help you revise complete syllabus for Economics Class 11 | Best notes, free PDF download

Information about Short Questions with Answers: Correlation - 2

In this doc you can find the meaning of Short Questions with Answers: Correlation - 2 defined & explained in the simplest way possible. Besides explaining types of Short Questions with Answers: Correlation - 2 theory, EduRev gives you an ample number of questions to practice Short Questions with Answers: Correlation - 2 tests, examples and also practice Commerce tests

	Economics Class 11 58 videos\|215 docs\|44 tests

Economics Class 11

58 videos|215 docs|44 tests

Join Course for Free

Download as PDF

Explore Courses for Commerce exam

Top Courses for Commerce

Explore Courses

Signup for Free!

Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.

Start learning for Free

10M+ students study on EduRev

pdf

Important questions

Exam

Objective type Questions

Class 11 Economics Short Questions with Answers: Correlation - 2

Previous Year Questions with Solutions

Viva Questions

practice quizzes

shortcuts and tricks

ppt

Free

Sample Paper

mock tests for examination

past year papers

MCQs

Summary

video lectures

study material

Class 11 Economics Short Questions with Answers: Correlation - 2

Semester Notes

Extra Questions

Class 11 Economics Short Questions with Answers: Correlation - 2

;

Additional Information about Short Questions with Answers: Correlation - 2 for Commerce Preparation

Short Questions with Answers: Correlation - 2 Free PDF Download

The Short Questions with Answers: Correlation - 2 is an invaluable resource that delves deep into the core of the Commerce exam. These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective. With the help of these notes, you can grasp complex subjects quickly, revise important points easily, and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner, allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material, or toppers' notes, this PDF has got you covered. Download the Short Questions with Answers: Correlation - 2 now and kickstart your journey towards success in the Commerce exam.

Importance of Short Questions with Answers: Correlation - 2

The importance of Short Questions with Answers: Correlation - 2 cannot be overstated, especially for Commerce aspirants. This document holds the key to success in the Commerce exam. It offers a detailed understanding of the concept, providing invaluable insights into the topic. By knowing the concepts well in advance, students can plan their preparation effectively. Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.

Short Questions with Answers: Correlation - 2 Notes

Short Questions with Answers: Correlation - 2 Notes offer in-depth insights into the specific topic to help you master it with ease. This comprehensive document covers all aspects related to Short Questions with Answers: Correlation - 2. It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation. Practice papers and question papers enable you to assess your progress effectively. Additionally, the paper analysis provides valuable tips for tackling the exam strategically. Access to Toppers' notes gives you an edge in understanding complex concepts. Whether you're a beginner or aiming for advanced proficiency, Short Questions with Answers: Correlation - 2 Notes on EduRev are your ultimate resource for success.

Short Questions with Answers: Correlation - 2 Commerce

The "Short Questions with Answers: Correlation - 2 Commerce Questions" guide is a valuable resource for all aspiring students preparing for the Commerce exam. It focuses on providing a wide range of practice questions to help students gauge their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation. The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level. Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.

Study Short Questions with Answers: Correlation - 2 on the App

Students of Commerce can study Short Questions with Answers: Correlation - 2 alongwith tests & analysis from the EduRev app, which will help them while preparing for their exam. Apart from the Short Questions with Answers: Correlation - 2, students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc. The EduRev App will make your learning easier as you can access it from anywhere you want. The content of Short Questions with Answers: Correlation - 2 is prepared as per the latest Commerce syllabus.

Education Revolution