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coefficient of correlation

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

In regression analysis this is a statistic designated as r and ranging from -1 to +1. It indicates the percentage of correlation between the dependent variable and the independent variable(s). When this statistic is squared it produces the coefficient of determination, which indicates the percentage change in the dependent variable that is explained by the change in the independent variable(s). Correlation does not necessarily mean there is a cause-and-effect relationship.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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