Describe:
(1)
every component
of the equation for calculating a correlation
coefficient; (2) the
purpose of each component; (3) what
kind...
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Basic Math
Describe:(1)everycomponentof the equation for calculating acorrelationcoefficient; (2) thepurpose of each component;(3) whatkind of data you would use this equation on;and(4)how tousetheequationonrawdata.
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Solution The formula or equation for correlation coefficient is given by r Cov XY sqrtVar X sqrtVar Y Answer of 1 and 2 r denotes the correlation coefficient between two variables X and Y CovXY denotes
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