Y 2 sum of the squared y scores. The Spearman Coefficient can take a value between 1 to -1 where A value of 1 means a perfect association of rank. Hence in this case we can say that there is a negative correlation between car price and mileage.
R X Y E X m x Y m y s x.
Lets focus on some statistical explanation of it. To learn more about the difference between the two heres a post that explores population vs sample in more detail. Correlation Coefficient x i- mean x y i-mean y x i-mean x2 y i-mean y2 Where x i value of x in the sample. Pearsons Correlation coefficient is represented as r it measures how strong is the linear association between two continuous variables using the formula.