Correlation, Define the term Correlation and describe Correlation formula in brief.

Correlation

Define the term Correlation and describe Correlation formula in brief.

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Correlation means and interrelationship or correspondence between two variables.
Electricity bill and weather
Height and weight
Distance and Time
Demand for the product and Price

Correlation formula:

The main result of a correlation is called the correlation coefficient (or "r").
This ranges from -1.0 to +1.0.
The closer r is to +1 or -1, the more closely the two variables are related.
If r is close to zero (0), it means there is no relationship between the variables.
If r is positive, it means that as one variable gets larger the other gets larger.
If r is negative this means that as one gets larger, the other gets smaller (often called an "inverse" correlation).

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