The Correlation Coefficient - Explained in Three Steps
Channel: Benedict
Date: 2014-05-01

The correlation coefficient is a really popular way of summarizing a scatter plot into a single number between -1 and 1. In this video, I'm giving an intuition how the correlation coefficient does this, without going into formulas. If you need to calculate the correlation coefficient for some data, you can find the formula here: https://en.wikipedia.org/wiki/Pearson_product-moment_correlation_coefficient#For_a_sample

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