Chapter-07 co-relation in economics class11th
Answers
Answered by
1
According to Croxton and Cowden,
"When the relationship is of a quantitative nature, the appropriate statistical tool for discovering & measuring the relationship & expressing it in a brief formula, is known as correlation."
Also in the words of A.M. Tuttle,
"Correlation is an analysis of covariation between two or more points.
Importance are:
1. Bivariate distributions can be studied.
2. Regression equations can be used to find such values.
3. Correlation analysis facilities understanding economic behaviour because of existence of relationship between two or more variables & helps in formulating & implementing certain policies.
"When the relationship is of a quantitative nature, the appropriate statistical tool for discovering & measuring the relationship & expressing it in a brief formula, is known as correlation."
Also in the words of A.M. Tuttle,
"Correlation is an analysis of covariation between two or more points.
Importance are:
1. Bivariate distributions can be studied.
2. Regression equations can be used to find such values.
3. Correlation analysis facilities understanding economic behaviour because of existence of relationship between two or more variables & helps in formulating & implementing certain policies.
Similar questions