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Correlation Analysis Notes For MBA 1st Year Semester Long Question Answer Notes

Correlation Analysis Notes For MBA 1st Year Semester Long Question Answer Notes

Correlation Analysis Notes For MBA 1st Year Semester Long Question Answer Notes


Correlation Analysis Notes For MBA 1st Year Semester Long Question Answer Notes

Correlation Analysis Notes For MBA 1st Year Semester Long Question Answer Notes
Correlation Analysis Notes For MBA 1st Year Semester Long Question Answer Notes
Correlation Analysis Notes For MBA 1st Year Semester Long Question Answer Notes
Correlation Analysis Notes For MBA 1st Year Semester Long Question Answer Notes

Differences between Correlation and Regression

S.No. Basis of difference Correlation Regression
1. Relationship Correlation is the relationship between two or more variables, which vary in sympathy with the other in the same or the opposite direction. Regression means going back and it is a mathematical measure showing the average relationship between two
2. Types of variables Both the variables X and Y are random variables. Here, X is a random variable and Y is a fixed variable. Sometimes, both the variables may be random variables.
3.   It finds out the degree of relationship between two variables and not the cause-effect of the variable. It indicates the cause and effect relationship between variables and establishes a functional relationship.
4.   It is used for testing and verifying the relation between two variables and gives limited information. Besides verification, it is used for the prediction of one value, in relationship to the other given value.
5.   The coefficient of correlation is a relative measure. The range of relationships lies between 1. The regression coefficient is an absolute figure.  If we know the value of the independent variable, we can find the value of the dependent variable.  
6.   There may be a non-sense correlation between the two variables.     In regression, there is no such non-sense regression.
7.   It has limited application because it is confined only \to a linear relationship between the variables. It has wider application, as it studies the linear and non-linear relationships between the variables.



 

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