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Correlation Coefficient
(redirected from correlation coefficients)

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Correlation coefficient
A standardized statistical measure of the dependence of two random variables, defined as the covariance divided by the product of the standard deviations of two variables.
Correlation Coefficient
A measure of whether and by how much two variables are related. A correlation coefficient may be between -1 and +1. Suppose there are two variables, A and B, with -A and -B indicating their opposites. A correlation coefficient of -1 indicates that A and -B are correlated and vice versa. On the other hand, a correlation coefficient of +1 means that A and B are correlated.
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Lest all this seem like the pedantic mutterings of an academic snob, let me stress that correlation coefficients and regression analysis are covered in the first college statistics course.
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In order to evaluate the adequacy of the regression analyses, linear correlation coefficients were calculated for each set of loss coefficient data.
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