Question

What is the meaning of the p value of a correlation coefficient?

Answer 1

Correlation coeffcient is used to find the magnitude and direction of relationship between two variables. We need to find whether the relationship between the two variables is significant or not. The p-value of correlation coefficient shows the probability of getting the correlation coefficient if null hypothesis is true.

If p-value of greater than level of significance then we fail to reject the null hypothesis and conclude that there is no significant relationship between the variables.

If p-value of lesser than level of significance then we reject the null hypothesis and conclude that there is significant relationship between the variables.