How to Calculate and Interpret Correlation Coefficients
• \(x\) and \(y\) are two variables • \(Σx\) and \(Σy\) are the sum of \(x\) and \(y\) values, respectively • \(Σxy\) is the sum of the product of \(x\) and \(y\) values • \(Σx^2\) and \(Σy^2\) are sums of squares of \(x\) and \(y\) values, respectively Calculate Spearman’s Rho The following formula is used […]
How to Know the Difference Between Correlation and Causation
Step 3: Determine the strength and direction of the correlation between variables. For this purpose, you can find the correlation coefficient such as Pearson’s r or Spearman’s rho. Step 4: After finding the correlation coefficient, interpret it. If the correlation coefficient is positive, it shows that the variables increase or decrease together. If the correlation […]