Correlation Coefficient
Correlation coefficient is a statistical measure that indicates the extent to which two or more variables are related. It is a value between -1 and 1, where -1 indicates a perfect negative correlation, 0 indicates no correlation, and 1 indicates a perfect positive correlation. Correlation coefficient is used to determine the strength and direction of the relationship between variables. In data science, correlation coefficient is often used to identify patterns and relationships between variables in a dataset. It is also used to determine the predictive power of a variable in a machine learning model. Correlation coefficient can be calculated using various methods, such as Pearson correlation coefficient, Spearman correlation coefficient, and Kendall correlation coefficient.
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