Question
Mention the mathematical properties of correlation.
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Answer
Mathematical properties of correlation are as follows:
- The correlation coefficient is symmetrical with respect to X and Y i.e. $^\gamma\text{XY}=\ ^\gamma\text{YX}$
- The correlation coefficient is independent of origin and unit of measurement i.e. $^\gamma\text{XY}=\ ^\gamma\text{UV}.$
- The correlation coefficient lies between - 1 and 1. i.e. $-1\leq\gamma\leq+1.$
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