TeachMeFinance.com - explain Correlation (statistical term)
Correlation (statistical term) The term 'Correlation (statistical term)' as it applies to the area of energy can be defined as ' In its most general sense, correlation denotes the interdependence between quantitative or qualitative data. It would include the association of dichotomized attributes and the contingency of multiple classified attributes. The concept is quite general and may be extended to more than two variates.The word is most frequently used in a somewhat narrower sense to denote the relationship between measurable variates or ranks'.
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