Question

what is the meaning of correlation in economics​

Answer 1

Answer:

a statistical measure (expressed as a number) that describes the size and direction of a relationship between two or more variables.

Explanation:

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Answer 2

Answer:

An statistics, correlation or dependence is any statistical relationship, whether causal or not, between two random variables or bivariate data. In the broadest sense correlation is any statistical association, though it actually refers to the degree to which a pair of variables are linearly related. Familiar examples of dependent phenomena include the correlation between the height of parents and their offspring, and the correlation between the price of a good and the quantity the consumers are willing to purchase, as it is depicted in the so-called demand curve.

Explanation:

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