[Q] How to apply correlation coefficient on varying subject matter?

*Subject matter means things like cancer, finance, aircraft disaster, school examination results, etc.

I understand if the correlation values gets closer to 1, the correlation is strong. But I got varying sources saying that 0.4-0.6 is not strong, and some says it’s depending on the field; this site sums it all up; here are some excerpts:

… There is no rule for determining what size of correlation is considered strong, moderate or weak …

… For this kind of data, we generally consider correlations above 0.4 to be relatively strong; correlations between 0.2 and 0.4 are moderate, and those below 0.2 are considered weak.

…. When we are studying things that are more easily countable, we expect higher correlations. For example, with demographic data, we we generally consider correlations above 0.75 to be relatively strong …

So, I’m a bit confused:

  1. Is there a way for me to justify why in my subject matter (i.e. Banking), I’d consider 0.4 strong?
  2. Would it be reasonable due to 50% of the data clumped to 0.4, the data that are having 0.4 correlation values be considered as strongly correlated?
  3. If it’s 0.4 correlated, can I say there is 40% probability that the thing could happen?

Hope someone could help : (

*(not a statistican BTW – have some basic understanding of statistics)

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[Q] Pooled panel regression with group-wise clustering by time

Hi,

How can I compute t-statistics for the coefficients of the pooled panel regression model below such that I account for group-wise clustering by time?

Y_{it} = α + βx_{it} + ϵ_{it}

I’ve read through several textbooks, but haven’t found a simple explanation.

If anybody could also advise on how to fit this model using Python or R, I’d be very grateful.

Thanks for any help!

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[Education] I really hate making threads like this but I just can’t find any info anywhere. How do I calculate an F critical value from a different % F table? Ie I have the 95%/two-sided 90% F table and I’m supposed to calculate F 97,5% (5,4)

Spent hours looking for some tutorial or site where it’s explained. Apparently every tutorial/explanation assumes you can use any F table.

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[Q] Need help determining if this coin flip statement is true or not.

Assuming the gambler starts with $500. Claim: No matter how many bets made or the amount bet each time, the chances of getting 16 times the money you originally had is 1/16 (with a fair 50/50 coin). Please let me know if this a true or false claims. Thank you!

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[Q] When one data point holds a large number

Hello I have a quick question.

At work I have a data set that has a list of 77 occupations that also has the total amount of people in it and their average wage.

The problem I am running into is that I am getting an average wage that I think isnt correct.

So for example; out of the 77 occupations there are a total of 60,000 total people employed with an average wage of $18.75. But there is one occupation that alone holds 22,000 people and the average wage for that occupation is $11.25.

there are other occupations int he dataset that are somewhat similar as well. Is there a way I can re-calculate the average wage that also takes into account the size of employees?

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[E] Literature student needs help, big time.

I have been in psychobiology for a year now but I dont have a math base, only till school. I collaborated and know how to do a t-test, a repeated measures anova and correlations but I know how to do them the way a monkey would, I was shown how to do them, where what to click and thats it. It has been fine uptill now since the data has always been the same experiments with small variations.

Now, I have been thrown into a psychology experiment and I have many many variables, Ive finished and it was an experiment with many questionnaires. SEE BOTTOM OF POST FOR DETAILS OF EXP.

Now it is time to analyse data and I need to know what tests to do and why and I realise this is way out of my league. I am not able to transform my data to make it normal, I dont know why my data is mostly all discrete variables and Im not sure which variables are independant and which not (most data comes as likert-scale replies). But I have been studying and I was able to do a confirmatory factor analysis to fit the data (we are also developing a questionnaire of 1 single factor) into a model succesfully, but i did it as a monkey would (thanks to youtube and google), although I read for days and now I think I know my way around it.

A collaborator has done some tests on my data and I dont even know how to repeat them (he did the model fitting I talk of above, which is why I was able to google it and do it myself as well) or why he chose to do those tests. Example: ¨Table 1. Regression of big-five personality subscales on Prosocial behaviour questionnaire¨. With this one table (which had β, t & p values) he showed only one factor (agreeableness) of personality is significantly correlated with (and thus measuring?) prosocial behaviour. Although when I do a simple correlation I find Agreeablesness correlates with prosocial beh very strongly but Openness also has a sig but weaker correlation.

Similarly, he showed that an interaction between prosocial behaviour and extraversion affect memory. Only subjects with +1SD in both above questionnaires do well in the memory task, I cant repeat those results either. He has clearly refused twice to teach or tell me what and why he is doing statistically and simply asks me to send him all the data (there is a lot more left to be added to the excel/spss file). I need to learn since it is my thesis and I could be asked questions.

So, I have got my hands on a book- Statistical Methods for the Social Sciences (Pearson), but I am lost on what chapters I should read and scared and overwhelmed and procrastinating. Please help if you can. I need to know, in an increasing order of difficulty what chapters I should be studying?!

Thanks a hell lot guys, if anyone reads and even goes on to answer something, sorry and I enjoy doing the little stats I ¨do¨, but im panicked.

I have access to SPSS, graphpad and AMOS, but not to a human teacher/guide.

post ends here.

The experiment: We had a participant come and we asked them to say how likely they are to help someone in a certain situation we described. Then we showed them a video of that situation and asked them to again tell us how likely they are to help. Both times we also asked how likely they think someone else would help.

Then we had them fill questionnaires about personality, their personal details, prococial behavior quesstionnaire, cognitive and intelligence questionnaires and tests were given as well as verbal and working memory tests. + other questionnaires. Lots of data, only 1 ¨manipulation¨ (i think?) that is the showing them the video and inducing prosocial behaviour desire, no clue about independent variables or dependant ones.

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