by Soumyadip Pal | Apr 1, 2017

We have talked about regression models in the context of linear regression models in the previous post. A nonlinear regression model is one that describes a nonlinear relationship between the dependent and the independent variables. Naturally, the equation of the...
by Soumyadip Pal | Mar 2, 2017

Spearman’s Coefficient of Rank Correlation (denoted by rho) is named after the British psychologist, Charles Edward Spearman. Rank correlation is a non-parametric variant of Karl Pearson’s Coefficient of Correlation. This means, while Pearson’s r...
by Soumyadip Pal | Mar 2, 2017

Assumptions in linear correlations Given how simple Karl Pearson’s Coefficient of Correlation is, the assumptions behind it are often forgotten. It is important to ensure that the assumptions hold true for your data, else the Pearson’s Coefficient may be...
by Soumyadip Pal | Mar 2, 2017

We’ve talked about how popular the concept of correlation is in business analytics. Causation, and its variants are also used rather commonly. This makes it easy to mistakenly connect the two popular terms and even use them interchangeably. The Latin phrase, cum...