Sunday, 9 September 2012

Correlation Analysis

  • Correlation Analysis: A group of statistical techniques used to measure the strength of the relationship (correlation) between two variables.
  • Scatter Diagram: A chart that portrays the relationship between the two variables of interest.
  • Dependent Variable: The variable that is being predicted or estimated. 
  • Independent Variable: The variable that provides the basis for estimation. It is the predictor variable.

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