What is an acceptable coefficient of variation?
Basically CVgood, 10-20 is good, 20-30 is acceptable, and CV>30 is not acceptable.
How do you tell if a correlation is strong or weak?
r > 0 indicates a positive association. r weak linear relationship. The strength of the linear relationship increases as r moves away from 0 toward -1 or 1.
What does an R value of 0.7 mean?
The correlation coefficient, denoted by r, is a measure of the strength of the straight-line or linear relationship between two variables. Values between 0.7 and 1.0 (-0.7 and -1.0) indicate a strong positive (negative) linear relationship via a firm linear rule.
Is .5 a strong correlation?
A correlation of –1 means the data are lined up in a perfect straight line, the strongest negative linear relationship you can get. Most statisticians like to see correlations beyond at least +0.5 or –0.5 before getting too excited about them.
Is 0.25 A strong correlation?
The correlation between two variables is considered to be strong if the absolute value of r is greater than 0.75….What is Considered to Be a “Strong” Correlation?Absolute value of rStrength of relationship0.25 Weak relationship0.5 Moderate relationshipr > 0.75Strong relationship1 more row•
What does a correlation of 1 mean?
A correlation of –1 indicates a perfect negative correlation, meaning that as one variable goes up, the other goes down. A correlation of +1 indicates a perfect positive correlation, meaning that both variables move in the same direction together.
What is an example of zero correlation?
A zero correlation exists when there is no relationship between two variables. For example there is no relationship between the amount of tea drunk and level of intelligence.
Can a correlation be greater than 1?
The correlation coefficient is a statistical measure of the strength of the relationship between the relative movements of two variables. The values range between -1.0 and 1.0. A calculated number greater than 1.0 or less than -1.0 means that there was an error in the correlation measurement.
Can the covariance be greater than 1?
The covariance is similar to the correlation between two variables, however, they differ in the following ways: Correlation coefficients are standardized. Thus, a perfect linear relationship results in a coefficient of 1. Therefore, the covariance can range from negative infinity to positive infinity.
Is there a correlation between 0 and 1?
CORRELATION COEFFICIENT BASICS 0 indicates no linear relationship. +1 indicates a perfect positive linear relationship – as one variable increases in its values, the other variable also increases in its values through an exact linear rule.