TeachMeFinance.com - explain Correlation (statistical term)
Correlation (statistical term)
In its most general sense, correlation denotes the interdependence between quanitative 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.
About the author
Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.