Lecture7 - ECO 220Y Lecture 7 Numerical Descriptive...

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ECO 220Y Lecture 7 i l D i t i T h i P t 3 Numerical Descriptive Technique Part 3 Migiwa Tanaka Reading: 4.4 (pp.124-128) 1
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Outline umerical Measures Describing Linear Relationship Numerical Measures Describing Linear Relationship between two variables ovariance Covariance Coefficient of Correlation Coefficient of Determination (See textbook & HW) Least Square Method (Lecture8) 2
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Review: Scatter Plot, Qualitative Assessment 0 5 10 1 20 y1 -10 -5 0 5 x1 -2 -5 0 5 x2 15 y3 y4 -5 0 5 -5 0 5 10 3 x2 x3
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Measures of Linear Relationship easure the strength of linear relationship quantitatively Measure the strength of linear relationship quantitatively. Influenced by two factors Steepness of the line Extent of data variation from the line 15 10 0 5 -5 4 -5 0 5 x2
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Definition: Covarinace opulation Covariance: covariance>0 x is Population Covariance: If covariance>0, x is large when and y is rge/small d x is small  y x N y i x i large/small and x is small when y is large/small . N y x COV i xy 1 ) , ( mple Covariance: If covariance<0, x is large when and y is Sample Covariance: large/small and x is small when y is large/small.
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Lecture7 - ECO 220Y Lecture 7 Numerical Descriptive...

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