What is the range of values for a correlation coefficient?
Answer:
The range of values for a correlation coefficient is from -1 to +1.
A correlation coefficient of -1 indicates a perfect negative correlation, meaning that the two variables move in opposite directions.
A correlation coefficient of +1 indicates a perfect positive correlation, meaning that the two variables move in the same direction.
A correlation coefficient of 0 indicates no correlation, meaning that there is no linear relationship between the two variables.
In general, the closer the value of the correlation coefficient is to -1 or +1, the stronger the correlation between the two variables. A correlation coefficient close to 0 indicates a weak or no correlation between the two variables. However, it's important to note that correlation does not necessarily imply causation, and other factors may be at play that are not accounted for in the analysis.
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