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Coefficient of correlation

  1. Jul 31, 2005 #1
    In a sample of 21 observations obtained it was found that sales and price have an inverse relationship and coefficient of determination is 106% as much as the adjusted coefficient of determination. It is also known that the variance of sales around mean is 640. What is the coefficient of correlation?

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    Im not sure how all the information fits together. I know coefficient of determination is SSR/SST, but i dont have any of that information
     
    Last edited: Jul 31, 2005
  2. jcsd
  3. Jul 31, 2005 #2
    im not really sure what variance of sales around mean, means...help?
     
  4. Jul 31, 2005 #3
    is sum of squares total the same as the variance around the mean?
     
  5. Jul 31, 2005 #4
    Variance is the coefficient of determination, which is the square of the coefficient of correlation. Adjusted, I think, means calculated from a linear regression with outliers eliminated. However, I may be totally wrong :redface:. In any case, http://encyclopedia.thefreedictionary.com/Coefficient+of+determination might help.
     
  6. Jul 31, 2005 #5

    EnumaElish

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    Another way coef of corr between X and Y is defined is Corr(X,Y) = Cov(X,Y)/([itex]\sigma_X\sigma_Y[/itex]) where "sigma" is the standard dev. of the subscripted variable. Maybe it is this formula that the problem is asking about?
     
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