What Correlation coef is
Correlation coefficients measure the strength of the relationship between two variables. A correlation coefficient can range from -1 to +1. A value of -1 indicates a perfect negative correlation, meaning that as one variable increases, the other variable decreases. A value of +1 indicates a perfect positive correlation, meaning that both variables increase or decrease together. A value of 0 indicates no correlation.
Steps for Correlation Coef:
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Gather data on the two variables you’d like to analyze.
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Calculate the mean and standard deviation of each variable.
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Calculate the covariance of the two variables.
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Divide the covariance by the product of the standard deviations of the two variables.
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Multiply the resulting number by 100 to get the correlation coefficient.
The resulting number is the correlation coefficient, which can range from -1 to +1. The higher the absolute value of the correlation coefficient, the stronger the correlation.
Examples
- Correlation coefficients can be used to measure the strength of the relationship between the stock prices of two companies.
- Correlation coefficients can be used to measure the degree of relationship between a person’s height and their weight.
- Correlation coefficients can be used to measure the strength of the relationship between air quality and asthma incidence.
- Correlation coefficients can be used to measure the strength of the relationship between the number of hours of sleep per night and academic performance in school.