In order to study the relationship between relative variations, either the data can be plotted on semi-logarithmic scale or the series may be converted into index numbers and then plotted on a natural scale. Price and Supply of a Commodity. Graphic correlation of long period and short period changes If correlation between long time changes or trend of two variables is desired to be studied separately from the correlation of their short time fluctuations, each series must first be split up into parts-one showing only their trend values, and the other only short time fluctuations.
This can be done by finding out trend values by the method of moving average or least squares. From the original series th ese trend values should be subtracted to obtain values of short time fluctuations. After this, the trend values of the two variables should be plotted on one graph and the fluctuations on the other.
It is possible to draw them on one graph paper also. Thus, the relationship between the long time changes of two series can be studied separately from the relationship of their short time changes. It is not unlikely that there is a positive correlation between their short time fluctuations and negative correlation between long time changes.
It should be remembered, however, that by a correlation graph we can only have an idea about the direction of correlation-whether it is positive or negative we cannot know its extent or magnitude. Transtutors provide 24x7 homework help , regular one to one grade tutoring in correlation graph. Our unique approach with a highly qualified and certified statistics tutors team of plus tutors gives an edge. You can submit your school, college or university level statistics homework or assignment to us and we will m ake sure that you get the answers you need which are timely and also cost effective.
What is Correlation Graph? In representing the above data by a graph the ordinate will have two scales-one which will show the price in rupees and the other which will show the supply in quintals. In adjusting the scales of the two variables, care should be taken to see that their averages are at the same level or in any case very close to each other.
If this is done the two curves would be close to each other and their relationship can be easily studied. If need be, a false base line can be taken for the purpose. Posted 11 days ago. In distribution with a single peak and moderate skewness to the right , it is closer to the Posted 12 days ago. For the values of a variable 5,2,8,3,7,4 the median is? Stop wasting time trying to find help on other homework sites or even chegg. I just used schoolsolver.
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