The development of statistical theory in the hands of Galton, Edgeworth and Pearson
was taken up in economics with speed and diligence. The earliest applications of simple
correlation analysis in economics appear to have been carried out by Yule (1895, 1896) on
the relationship between pauperism and the method of providing relief, and by Hooker
(1901) on the relationship between the marriage-rate and the general level of prosperity
in the United Kingdom, measured by a variety of economic indicators such as imports,
exports, and the movement in corn prices
The development of statistical theory in the hands of Galton, Edgeworth and Pearson
was taken up in economics with speed and diligence. The earliest applications of simple
correlation analysis in economics appear to have been carried out by Yule (1895, 1896) on
the relationship between pauperism and the method of providing relief, and by Hooker
(1901) on the relationship between the marriage-rate and the general level of prosperity
in the United Kingdom, measured by a variety of economic indicators such as imports,
exports, and the movement in corn prices
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