Covariance and Correlation Coefficient Homework Help

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Statistics students often complain about the time and patience required to ace the subject. It is true; statistics is no child’s play. An insignificant mistake can cost a lot and it takes even more time to figure what went wrong. All calculations must be handled with caution. When allotted with assignments on topics such as Covariance and Correlation coefficient, students might have a hard time with the calculations. To help students at their hour of need, has stepped forward with an offer to do homework for the students. Our Covariance and Correlation coefficient Homework Help will take care of your assignment efficiently while you relax and use your time for something more productive, like actually practicing the subject with time for trial and error!

To begin with, we will introduce to the concepts. So, here it is.

A Small Note on Covariance and correlation Coefficient
A covariance is an indication of the nature of relationship between two variables. A positive covariance indicates a positive relationship which suggests the variables move in same direction, while a negative covariance in indicative of a negative relationship between the variables and that they move in opposite directions.

Correlation is another method of determining the nature of relationship between two variables. Apart from indicating whether they are positively or negatively related, which Covariance does, it also measures the degree to which the variables move together.

  • When the correlation coefficient is one, it suggests that the variables have perfect positive correlation and that they move proportionately in the same direction.
  • When correlation coefficient is zero, it means there is no relationship between the given variables. Movement of one cannot predict the movement of another in that case.
  • When correlation coefficient is -1, it implies those variables are inversely proportional, that is, while one increases, the other decreases in same proportion.

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