Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Pearson correlation has a value range of -1.00 and 1.00 (Lind et al., 2021). The calculation measures the strength of a correlation between 2

The Pearson correlation has a value range of -1.00 and 1.00 (Lind et al., 2021). The calculation measures the strength of a correlation between 2 variables, looking more at association (Lind et al., 2021). Spearman's correlation for ranked data allows us to describe the relationship between sets of ranked data (Lind et al., 2021). Spearman's approach is appropriate when the relationship between the variables is not linear or when one or more of the data points are quite different from the others (Lind et al., 2021). Both of these conditions are not appropriate for Pearson correlation.

References:

Lind, D. A., Marchal, W. G., & Wathen, S. A. (2021).Statistical Techniques in Business & Economics. McGraw-Hill Education.

----------------------------------------------------------------------------------------------------------------------------

Please JUSTIFY the above .

The note should have intext citations. For example, anything with numbers or quotes per paragraph. The intent citation just needs to be the Author's last name and year it was published. Please also include REFERENCES. Thanks

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quantitative Methods For Business

Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam

11th Edition

978-0324651812, 324651813, 978-0324651751

More Books

Students also viewed these General Management questions

Question

3. What might be the response of the attorneys to this change?

Answered: 1 week ago