The correlation coefficient, \( r \), is a number between \( -\infty \) and \( \infty \) 0 and 1 -10 and 10 -1 and 1 0 and \( \infty \) 0 and 100 0 and 10
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The correlation coefficient, \( r \), ranges from -1 to 1. This means that a value of -1 indicates a perfect negative correlation, meaning as one variable increases, the other decreases perfectly. A value of 1 indicates a perfect positive correlation, where both variables increase together perfectly. A value of 0 signifies no correlation between the two variables at all. In practical terms, understanding this range helps in interpreting data trends. For example, in social science research, a correlation close to 1 might suggest that education level is strongly linked to salary, while a number close to 0 would indicate that there's no strong relationship between the two. Utilize this concept wisely to draw insights from your data!