What is the correlation coefficient in the context of a scatter plot?
- A measure of the correlation between two variables
- A measure of the spread of data points
- The slope of the line of best fit
- The y-intercept of the line of best fit
The correlation coefficient, often denoted by r, is a numerical measure that quantifies the degree of correlation between two variables. It ranges from -1 to +1, with -1 indicating a perfect negative correlation, +1 indicating a perfect positive correlation, and 0 indicating no linear correlation.
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