Take a quiz – Correlations by Soumyadip Pal | 1. Who is the coefficient of linear correlation named after? Karl Marx Karl Pearson Charles Spearman Charles Babbage 2. Two columns of data have 25 numerical values each. Calculating =CORREL(array1, array2) in MS Excel gives a value of -0.8288723. What can you say about the two sets of data? When one series increases, other increases in almost the same proportion When one series decreases, other increases in almost the same proportion When one series decreases, other decreases in almost the same proportion When one series increases or decreases, other series does not change 3. In the given data, B always rises when A rises, but does not do so at a consistent rate. What would the Coefficient of Linear Correlation and Coefficient of Rank Correlation be? Coefficient of linear correlation = 1; Coefficient of rank correlation = 1 Coefficient of linear correlation = 0; Coefficient of rank correlation = 1 Coefficient of linear correlation = 0.98; Coefficient of rank correlation = 1 Coefficient of linear correlation = 1; Coefficient of rank correlation = 0 4. =RANK() function in MS Excel is used to compute the Spearman’s Rank Correlation Coefficient. True False 5. Which of the following indicates the strongest correlation? 0.84 -0.87 0.37 2 6. A researcher looked at the GDP the consumer spending data for a country and found a strong, positive correlation. What does this indicate? A 25% rise in consumer spending would lead to a USD 1 trillion increase in GDP A 25% rise in consumer spending would lead to a 2.5% increase in GDP A rise in consumer spending would lead to an increase in GDP A rise in consumer spending would lead to higher exports Loading … Related posts: Are All Variables the Same? How to Compute the Measures of Dispersion using Microsoft Excel Using Central Tendency Measures to Describe Data Why’s Data Important – What’s the Deal?