You are working on a dataset with ordinal variables. You are interested in the correlation between these variables. Which correlation coefficient would be the best choice and why?
- Covariance
- Kendall's Tau
- Pearson's correlation coefficient
- Spearman's correlation coefficient
In a dataset with ordinal variables, Spearman's correlation coefficient would be the best choice. This is because Spearman's correlation coefficient does not assume that data is normally distributed and works with ranks, making it suitable for ordinal data.
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