0.13) If coefficient of correlation r=0.7 and n=64, then find the probable error of the
correlation of coefficient. (1 marks )
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Answer:
Probable Error is basically the correlation coefficient that is fully responsible for the value of the coefficients and its accuracy. Let’s dig in deeper to know about the concepts of probable error and probable limits in a better way.
As mentioned, probable error is the coefficient of correlation that supports in finding out about the accurate values of the coefficients. It also helps in determining the reliability of the coefficient.
The calculation of the correlation coefficient usually takes place from the samples. These samples are in pairs. The pairs generally come from a very large population. It is quite an easy job to find out about the limits and bounds of the correlation coefficient.
The correlation coefficient for a population is usually based on the knowledge and the sample relating to the correlation coefficient. Therefore, probable error is the easy way to find out or obtain the correlation coefficient of any population. Hence, the definition is:
Probable Error = 0.674 × 1−r2/√N
Here, r = correlation coefficient of ‘n’ pairs of observations for any random sample and N = Total number of observations.