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Answer the following on regression and correlation.
If σ_x = 3, σ_y = 4 and b_(xy) = 1/3, then find the value of correlation coefficient (r).
If $\sigma_x = 3$, $\sigma_y = 4$ and $b_{xy} = \frac{1}{3}$, then find the value of correlation coefficient ($r$).
Answer
Answer
Correlation coefficient r: 4/9
$b_{xy} = r\frac{\sigma_x}{\sigma_y} \Rightarrow \frac{1}{3} = r \times \frac{3}{4}$
Hence $r = \frac{4}{9}$.