Correlation Coefficient
Scatterplot is the diagram used to plot the coordinates of each point.
SCATTERPLOTS show trends, association, outliers, and much more.
Used for bivariate data (meaning you will have two variables)
It is used to check for association - not - causation.
It is represented by r
r (correlation coefficient) runs between -1 and +1
The closer it gets to zero, the lesser the chance of it having any association.
R = r squared and is referred to as the coefficient of determination
The LSRL (least Squares Regression Line) is the line that marks the mean of the Scatter plot.
