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Definition--Statistics and Probability Concepts--Correlation Coefficient
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Algebra >> Probability and Data Analysis >> Data Analysis

Definition--Statistics and Probability Concepts--Correlation Coefficient

Correlation Coefficient

Correlation Coefficient

Topic

Statistics and Probability

Definition

The correlation coefficient is a measure that quantifies the degree to which two variables are related.

Description

The correlation coefficient is crucial in statistics for determining the strength and direction of a linear relationship between two variables. This measure is widely used in fields such as finance, where it helps in assessing the relationship between different financial instruments, or in psychology to understand the relationship between different behavioral metrics. A correlation coefficient close to 1 or -1 indicates a strong relationship, while a value close to 0 indicates a weak relationship. Understanding the correlation coefficient is vital for students to interpret data and make predictions based on statistical analysis.

Correlation Coefficient
Do you think there's a correlation between outside 
average temperature and the purchase of coats?

For a complete collection of terms related to Probability and Statistics click on this link: Probability and Statistics Collection.

Common Core Standards CCSS.MATH.CONTENT.6.SP.B.4, CCSS.MATH.CONTENT.6.SP.A.2, CCSS.MATH.CONTENT.HSS.ID.A.1, CCSS.MATH.CONTENT.HSS.ID.A.2, CCSS.MATH.CONTENT.HSS.ID.A.3, CCSS.MATH.CONTENT.HSS.ID.A.4
Grade Range 8 - 12
Curriculum Nodes Algebra
    • Probability and Data Analysis
        • Data Analysis
Copyright Year 2020
Keywords statistics, probability