What is Correlation?

What is Correlation? Can you answer my question? Okay, lets discuss it one part of topic on our Distance Learning and Business Management learning and sharing. quantitative and statistical methods for management

Correlation is a measure of the relation between two or more variables. The measurement scales used should be at least interval scales, but other correlation coefficients are available to handle other types of data. Correlation coefficients can range from -1.00 to +1.00. The value of -1.00 represents a perfect negative correlation while a value of +1.00 represents a perfect positive correlation. A value of 0.00 represents a lack of correlation.

The most widely-used type of correlation coefficient is Pearson r, also called linear or product- moment correlation. This article was taken from statsoft.