Correlation and Regression
Analyzing relationships between variables and predicting outcomes
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Question
What is Pearson's correlation coefficient?
Answer
A measure of the linear relationship between two variables, ranging from -1 to 1.
r = Σ[(X - X̄)(Y - Ȳ)] / (n - 1)σxσy
Example: r = 0.8 indicates a strong positive linear relationship
Note: Assumes data is normally distributed