Question
a) Define correlation coefficient. What are its properties?
b) Fit a straight line to the following data. Compare the estimated values of the dependent variable with its actual values.
| X | 5 | 8 | 10 | 12 | 13 | 15 | 17 | 16 |
| Y | 8 | 12 | 14 | 10 | 13 | 16 | 14 | 17 |
Answer :
Word Count : 140
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(a). A correlation coefficient is a numerical measure of some type of correlation, meaning a statistical relationship between two variables. The variables may be two columns of a given data set of observations, often
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