LimitforONN: Finds the feasible correlation range for a pair of binary/ordinal and continuous variables
Description
The function computes the lower and upper correlation bounds of a pairwise correlation between a binary/ordinal variable and a continuous variable using GSC algorithm in Demirtas and Hedeker (2011).
A vector of the cumulative probabilities defining the marginal distribution for the binary/ordinal variable of the pair. If the variable is binary, the probability vector will contain only 1 probability value. If the variable is ordinal with k categories (k > 2), the probability vector will contain (k-1) values. The k-th element is implicitly 1.
skew1
The skewness value for continuous variable of the pair.
kurto1
The kurtosis value for continuous variable of the pair.
Value
A vector of two elements. The first element is the lower correlation bound and the second element is the upper correlation bound.
References
Demirtas, H., Hedeker, D. (2011). A practical way for computing approximate lower and upper correlation bounds. The American Statistician, 65(2), 104-109.