Write notes on Types of correlations.
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Definition of Correlation
In normal everyday language a correlation implies a relationship between two or more things. You may correlate the smell of crayons to your youth, or the sound of waves to vacation. In mathematics correlation is a measurement of the covariance or dependence of one variable on another. Basically it's asking the question, 'If I increase this variable by one unit, how well can I predict what will happen in the other variable?' Good question, right? Let's see how this works.
Types of Correlations
Broadly speaking there are three different types of correlations: positive, negative, and neutral or no correlation. A perfect positive correlation would mean that if you increased the one variable by one unit you could predict with 100% accuracy how far the other variable would increase. A perfect negative correlation would indicate a 100% accurate prediction of the decrease in the other variable. If there is no correlation, or a neutral correlation between two variables then changing one variable will have no predictable result on the other variable.
Correlation.
Of course, there are going to be relationships that fall on the spectrum between these three general descriptions. That's where formulas come in to play.