CORRELATION TOOLS AND

TECHNIQUES
AFTERSCHO☺OL
– DEVELOPING CHANGE MAKERS
CENTRE FOR SOCIAL ENTREPRENEURSHIP
PGPSE PROGRAMME –
World’ Most Comprehensive programme in social
entrepreneurship & spiritual entrepreneurship
OPEN FOR ALL FREE FOR ALL

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 CORRELATION TOOLS AND
TECHNIQUES
Dr. T.K. Jain.
AFTERSCHO☺OL
Centre for social entrepreneurship
Bikaner M: 9414430763
tkjainbkn@yahoo.co.in
www.afterschool.tk, www.afterschoool.tk
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
 Calculate correlation based on 5 year
moving average based shot term
oscillators from the following data:
•
CLICK THE FOLLOWING LINK TO SEE THE

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 Correlation between Rank and
Placements is .6, N = 60, find the
limits of population correlation?

• Formula of standard error :

• = (1- r^2) / sqrt (n)
• =(1- .36) / (sqrt(60))
• =.082
• Upper limit = .6 + .082 = .682
• Lower limit = .6 - .082 = .518 answer.
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 Rank Correlation
• Developed by SPEARMAN
• Formula:
• =1 – { 6∑d^2 / (n(n^2 -1))}
• D = difference between two ranks
• N = numer of pairs.
• Very easy and simple method for
calculation of correlation.

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 Find rank correlation among the following

Name Height Weight

Amit 180 70
Giriraj 170 58
Dushyant 190 53

Nitin 166 51
Jayant 168 90
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 Solution
Name Height rank Weight

d=
rank (diff) d^2
Amit 180 2 70 2 0 0
Giriraj 170 3 58 3 0 0
Dushyant 190 1 53
4 -3 9
Nitin 166 5 51 5 0 0
Jayant 168 4 90 1 3 9

18
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 Next step : apply formula?
• =1 – { 6∑d^2 / (n(n^2 -1))}
• =1- {(6*18) / (5(25-1))}
• =1 - .9
• =.1 answer.

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 Find rank correlation in the following two series…

x rank y rank D d^2

50 9 110 8.5 0.5 0.3
55 6.5 110 8.5 -2 4
65 3.5 115 7 -4 12
50 9 125 4 5 25
55 6.5 140 2 4.5 20
60 5 115 7 -2 4
50 9 130 3 6 36
65 3.5 120 5 -2 2.3
70 2 115 7 -5 25
75 1 160 1 0 0

129

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 Solution
• Apply the formula…
• =1 – { 6∑d^2 + 1/12(m^3 –m) / (n(n^2
-1))}
• =1 – (6*129 + 1/12 (2^3 – 2)+1/12 (2^3-2)
+1/12(3^3-3) +1/(2^3 -2)+1/12 (3^3 -3)/
(10 * (99))
• =1-.78
• =.22 answer.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
 Solution…
• M = number of pairs
• 1/12 is always used in this format only.
• We use as many 1/12 (m^3 –m) as there
are pairs.

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 Example of negative correlation

Name Height rank Weigh

t
rank d d^2
Amit 180 4 70 2 2 4
Giriraj 191 2 58 3 -1 1
Dushyan 190 3 53
t 4 -1 1
Nitin 192 1 51 5 -4 16
Jayant 168 5 90 1 4 16

38
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
 Solution
• Here we can see that correlation is -.9
• Because when we apply the formula, we
get 1 -1.9 = .9
• Thus here there is a negative correlation
between the two values.
• Answer.

www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

 What is the level of correlation between the judgements of 2
judges?

candidate rank1 rank2 D D^2

SHARUKH 1 2 -1 1
DIPIKA 6 7 -1 1
SALMAN 7 3 4 16
KATRINA 3 1 2 4
AKSHAY 2 5 -3 9
PRIYANKA 4 4 0 0
IMRAN 5 6 -1 1
URMILA 10 10 0 0
KARINA 8 8 0 0
SAIF 9 9 0 0
RANK CORRELATION
www.afterschoool.tk 0.19 FOR0.81
AFTERSCHO☺OL's MATERIAL 32
PGPSE PARTICIPANTS
 CONCURRENT DEVIATION
METHOD
• In this method we look at concurrent
deviations in order to find correlation.
• The formula is :
• R = + - sqrt (+ - (2c-n)/n)
• C = concurrent deviations (plus signs)
• N = number of pairs
• R = correlation
• It takes into account the direction only and
not the quantity of change.
www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS
 Solution…

deviatio
class varsha n amit c

8 77 65
9 64 - 50 - +
10 67 + 40 - -
11 86 + 57 + +
12 74 - 47 - +
grad. 67 - 55 + -

3 plus
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 Apply to the formula
• R = + - sqrt (+ - (2c-n)/n)
• N = number of pairs compared
• R = + - sqrt(+ - (2*3 – 5/5)
• =+ - sqrt (1/5)
• =.45
• Thus correlation is .45 (positive) answer.

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 ABOUT AFTERSCHO☺OL
Afterschoool conducts three year integrated PGPSE
(after class 12th along with IAS / CA / CS) and 18
month PGPSE (Post Graduate Programme in Social
Entrepreneurship) along with preparation for CS / CFP /
CFA /CMA / FRM. This course is also available online
also. It also conducts workshops on social
entrepreneurship in schools and colleges all over India –
start social entrepreneurship club in your institution
today with the help from afterschoool and help us in
developing society.

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 Why such a programme?
• To promote people to take up entrepreneurship
and help develop the society
• To enable people to take up franchising and
other such options to start a business / social
development project
• To enable people to take up social development
as their mission
• To enable people to promote spirituality and
positive thinking in the world

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 Who are our supporters?
• Afterschoolians, our past beneficiaries,
entrepreneurs and social entrepreneurs
are supporting us.
• You can also support us – not necessarily
by money – but by being promotor of our
concept and our ideas.

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 About AFTERSCHO☺OL PGPSE – the
best programme for developing great
entrepreneurs
• Most flexible, adaptive but rigorous programme
• Available in distance learning mode
• Case study focused- latest cases
• Industry oriented practical curriculum
• Designed to make you entrepreneurs – not just
an employee
• Option to take up part time job – so earn while
you learn
• The only absolutely free course on internet
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 Workshops from
AFTERSCHO☺OL
• IIF, Delhi
• CIPS, Jaipur
• ICSI Hyderabad Branch
• Gyan Vihar, Jaipur
• Apex Institute of Management, Jaipur
• Aravali Institute of Management, Jodhpur
• Xavier Institute of Management, Bhubaneshwar
• Pacific Institute, Udaipur
• Engineering College, Hyderabad

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 Flexible Specialisations:
• Spiritualising business and society
• Rural development and transformation
• HRD and Education, Social Development
• NGO and voluntary work
• Investment analysis,microfinance and inclusion
• Retail sector, BPO, KPO
• Accounting & Information system (with CA / CS /CMA)
• Hospital management and Health care
• Hospitality sector and culture and heritage
• Other sectors of high growth, high technology and social
relevance

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 Salient features:
• The only programme of its kind (in the whole world)
• No publicity and low profile course
• For those who want to achieve success in life – not just a
degree
• Flexible – you may stay for a month and continue the rest of
the education by distance mode. / you may attend weekend
classes
• Scholarships for those from poor economic background
• Latest and constantly changing curriculum – keeping pace
with the time
• Placement for those who are interested
• Admissions open throughout the year
• Latest and most advanced technologies, books and study
material

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 Components
• Pedagogy curriculum and approach based on IIM Ahmedabad and ISB
Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)
• Meditation, spiritualisation, and self development
• EsGotitial softwares for business
• Business plan, Research projects
• Participation in conferences / seminars
• Workshops on leadership, team building etc.
• Written submissions of research projects/articles / papers
• Interview of entrepreneurs, writing biographies of entrepreneurs
• Editing of journals / newsletters
• Consultancy / research projects
• Assignments, communication skill workshops
• Participation in conferences and seminars
• Group discussions, mock interviews, self development diaryng
• Mind Power Training & writing workshop (by Dr. T.K.Jain)

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 Pedagogy
• Case analysis,
• Articles from Harvard Business Review
• Quiz, seminars, workshops, games,
• Visits to entrepreneurs and industrial visits
• PreGotitations, Latest audio-visuals
• Group discussions and group projects
• Periodic self assessment
• Mentoring and counselling
• Study exchange programme (with institutions out of
India)
• Rural development / Social welfare projects
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 Branches
• AFTERSCHO☺OL will shortly open its
branches in important cities in India
including Delhi, Kota, Mumbai, Gurgaon
and other important cities.
Afterschooolians will be responsible for
managing and developing these branches
– and for promoting social entrepreneurs.

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 Case Studies
• We want to write case studies on social
entrepreneurs, first generation
entrepreneurs, ethical entrepreneurs.
Please help us in this process. Help us to
be in touch with entrepreneurs, so that we
may develop entrepreneurs.

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Basic values at AFTERSCHO☺OL
• Share to learn more
• Interact to develop yourself
• Fear is your worst enemy
• Make mistakes to learn
• Study & discuss in a group
• Criticism is the healthy route to mutual support
and help
• Ask fundamental questions : why, when, how &
where?
• Embrace change – and compete with yourself
only
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 www.afterschoool.tk
social entrepreneurship for better
society

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