Calculating procedure for the correlation coefficient of Fechner and Pearson and their application areas

Research relevance in this article is shown in tabular form the calculation of correlation between fixed assets and the volume of commercial products. Using the properties of average values, Pearson’s formula was changed, which made it possible to simplify the calculation methodology. The aim of the research is to study and analyze the correlation coefficient of the mathematical and statistical indicator, the relationship between factorial and effective indicators that are found in the socio-economic life of society. Research purpose is to study and analyze the correlation coefficient of the mathematical and statistical indicator, the relationship between factorial and effective indicators that are found in the socio-economic life of society. Research methods: the article uses the correlation dependence and the statistical relationship of two or more random variables, while changes in the values of one or more of these quantities are accompanied by a systematic change in the values of another or other quantities. Research results can be used in the practice of teaching the course of statistical analysis in medical, biological, biophysical and economic specialties in universities. Conclusions: correlation coefficients are relatively easy to calculate, their application does not require special mathematical training. Combined with the simplicity of interpretation, the simplicity of the coefficient application has led to its widespread use in the field of statistical data analysis.