Essay Available:
Pages:
1 page/β275 words
Sources:
1 Source
Style:
APA
Subject:
Business & Marketing
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 5.83
Topic:
Positive and Negative Correlation, Pearson's Correlation Coefficient and T-test Importance
Coursework Instructions:
Provide an example of where you could use correlation in real life. Explain why a t-test is necessary before you accept this correlation as being real in the population. Reference and Cite needed.
Coursework Sample Content Preview:
Regression and Correlation Analysis
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Correlation is a bivariate analysis that measures the association between two variables. It quantifies the extent to which the change in the values of one continuous variable is associated with the change in the values of another variable (Schober, 2018). Correlation is best used for descriptive analysis rather than a method that gives definitive answers since it does not always imply causation. It provides clues of what the data being analyzed might yield and is often followed by advanced techniques like regression (Chalil, 2020). A positive correlation occurs when the variables move in a similar direction. This implies that as one continuous variable increases, the other one also increases, or as one variable decreases, the value of the other variable also decreases. On the other hand, a negative correlation occurs when two variables shift in the opposite direction. This implies that as one continuous variable decreases, the other increases and vice versa.
I could use correlation in real life by working more hours to increase my earnings. Working hours are positively associated with earnings; as working hours increase, earnings also increase. Additionally, I could use correlation by increasin...
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