Statistical Correlation Study

Abstract

Correlation is a statistical method used to determine relationships between two or more variables. The intensities of various factors influence change in time and space conditions such that the evolution of the dependent phenomena is changing comparing with the previous trends. This paper represents a study on the correlation between three very important economic factors: Government public debt as a percentage of gross domestic product, labor productivity and employment rate, Eur per Gigajoule for natural gas. The statistics contain data from 1998 to 2009 for various  ountries. In order to analyze the economic influences of each factor we will present statistics for countries that differ depending on geographic location and the citizens' standard of living. We also exemplify a situation where the correlation coeficient obtained has an aberrant value.