The covariance shows a linear relationship between two random variables. However covariance does not have an upper or lower bound. A related measure, correlation coefficient, provides the strength of the relationship. After watching the following video:
https://www.youtube.com/watch?v=0XKIDqB4Wug (7:00)
1. Summarize the difference between a covariance and correlation coefficient.
2. Explain which one of the two measures would be more useful in describing the relationship between two variables. Justify your answer by giving an example.
Directions to student: The final paragraph (three or four sentences) of your initial post should summarize the one or two key points that you are making in your initial response. You will be writing three or more discussion posts per week. Your main post must be two to three substantive paragraphs 150-200 total words and include at least two APA-formatted citations/references. Please follow up with two subsequent replies to colleagues. Each reply should consist of a relevant paragraph containing 100 words or more.
Submit your posting to the Discussion Area by Day 3 of the week 2.
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