PSYC 3250 Lecture Notes - Lecture 5: Foreign Exchange Market, Extraversion And Introversion

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5 Feb 2016
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



 !"#\$
Review of Correlation
Essential to understanding reliability
Imagine we are interested in knowing whether grades on the Midterm (x) out of 20 points
are related to grades on the final exam (y) out of 30 points
We would begin by collecting the midterm Grades and final exam grades for a group
people such as last years class.
If there is a relation between x and y this means that the knowledge of x gives us some
Correlation and Prediction
How to determine if there is a relation between the two variables
First of all, we can draw a scattergram, which plots the two variables as
coordinates.
How well the data points follow a straight line. This is what is key here.
Product Moment Correlation
What degree of relation is present
The statistic is noted as Rxy and is calculated over n Pairs of observations
With a perfect correlation, all points in the scattergram fall on a straight line.
FOR EX:
- A +1 indicates a perfect direct correlation
- A -1 indicates a perfect indirect correlation
- A correlation of 0 indicates no linear correlation
Computation
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