Correlation And Regression

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Correlation

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A statistical tool which studies the relationship between two variables.

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Positive correlation

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If the values of the two variables deviate in the same direction eg if an increase in the values of one variables results on average in a corresponding increase in the values of the other variable

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Negative correlation

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If the increase in the variables deviate in opposite direction. Eg if increase in the values of one variable results on average in corresponding decrease in the values of other variable.

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Linear correlation

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If the change of one unit in one variable results in the corresponding change in the other variable over the entire range of values.

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Non-linear correlation

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If corresponding to a unit change in one variable, the other variable does not change at a constant rate but changes at a fluctuating rate.

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The coefficient of correlation

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Measures the degree of association between the two values of related variables given in the data set

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Correlated positively

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r=1

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Correlated positively

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r=1

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Correlated negatively

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r = -1

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Uncorrelated

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If the points are scattered and they don’t reveal no upward or downward trend

r = 0

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Regression analysis

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The estimation or prediction of the unknown value of one variable from the known value of the variable.

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Coefficient of determination

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The proportion of variance of the dependent variable that can be explained by the independent variable. Or how well the regression fits the data.

Demoted by R^2 which is the square of the correlation coefficient r