You are given the following information about two variables x and y: Mean(x)= 315 and Mean(y)=1,103. Variance(x)=59 and Variance(y)=156. Covariance(x,y)= -54. Calculate the coefficient of correlation between X and Y. Calculate your answer to two decimal places.
Md Ariful Islam
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Dr. Md Rushad Rahman
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This question raises a higher level of statistics than is addressed in this article. It is possible to calculate the correlation coefficient from the means, variance and covariance, without actually having the original data points to begin with. The relationship is Correlation Coefficient = Covariance / ((Std. Dev. (x) * (Std. Dev. (y)). The standard deviation is the square root of the variance. So, with your data, this simplifies to Corr.Coeff.=-54/sqrt(59)sqrt(156) = -0.56.
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