# ECO253

## Category:ECO253

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ECO253

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______ Situations may arise when the values of two variables deviate in the same direction

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he term best fit is interpreted in accordance with the principle of least squares which involves minimising the sum of the squares of the residuals or the ____ of the estimates

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is the line which gives the best estimate of one variable for any given value of the other variable

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___ is a mathematical measure of the average relationship between two or more variables in terms of the original units of the data

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In regression analysis, the dependent variable is also known as ________

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Prediction or ______________ is one of the major problems in almost all the spheres of human activity

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Spearman's correlation coefficient approximates Pearson's correlation when the sample size is _____________

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Spearman's correlation coefficient measures correlation when the data is

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_______ variable is also known as the regressor

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Which of the followings is not a type of system?

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in general sense, means the estimation or prediction of the unknown value of one variable from the known value of the other variable

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_____________ is the situation when the phenomena under study inter-influence each other. Such instances are usually observed in data relating to economic and business situations.

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____________ Correlation is said to be negative or inverse if the variables deviate in the opposite direction

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_______________ formula can be used even when dealing with variables which are measured quantitatively

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Karl Pearson was a British Biometrician and statistician suggested a mathematical method for measuring the magnitude of linear relationship between two _____

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A British Psychologist _______ developed a formula in 1904 which can be used to obtain the correlation coefficient between the ranks of n individuals in the two variables or attributes being study

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______________ describes situations if corresponding to a unit change one variable; the other variable does not change at a constant rate but at a fluctuating rate

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_____________ describes a situation where for a unit change in one variable there is a constant corresponding change in the other variable over the entire range of values.

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______________ is a type of regression in which more than two variables are studied

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