The relationship between three or more
variables is studied with the help of
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Multiple correlation refers to the strength of the association between the independent variables and one dependent variable, i.e. relationship between more than two variables.
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The relationship between three or more variables is studied with the help of multiple correlations.
- Multiple Correlation is a term used to describe the study of the relationship between three or more variables at the same time.
- When considering quantity demanded, for example, numerous variables such as price, income, price of substitute products, and so on come into play.
- Multiple correlations, on the other hand, look at the relationship between quantity required and price, income, and substitute prices all at once.
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