Question

define correlation coefficient

Answer 1

[AI-generated answer — Bot GPT 3.5]

The correlation coefficient, also known as Pearson's correlation coefficient or Pearson's r, is a statistical measure that quantifies the strength and direction of the linear relationship between two variables. It ranges from -1 to +1, with positive values indicating a positive correlation (as one variable increases, the other variable also tends to increase) and negative values indicating a negative correlation (as one variable increases, the other variable tends to decrease). A correlation coefficient of 0 indicates no linear relationship between the variables. The magnitude of the correlation coefficient indicates the strength of the relationship, with values closer to -1 or +1 indicating a stronger correlation. If the correlation coefficient is exactly -1 or +1, it represents a perfect negative or positive linear relationship, respectively.