The correlation coefficient is a statistical measure used to determine the strength and direction of the relationship between two variables. It quantifies how much two sets of data are related or co-vary. There are different types of correlation coefficients, but the most common is the Pearson correlation coefficient, often denoted as "r." It ranges from -1 to +1:
If "r" is close to +1, it indicates a strong positive relationship. This means that as one variable increases, the other tends to increase as well.
If "r" is close to -1, it indicates a strong negative relationship. In this case, as one variable increases, the other tends to decrease.
If "r" is around 0, it suggests a weak or no linear relationship between the variables.
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