Question

What does correlation coefficient : r and coefficient of determination: r^2 mean?

Answer 1

Correlation Coefficient

The correlation coefficient, denoted by r, is a measure of the strength of the straight-line or linear relationship between two variables. The correlation coefficient takes on values ranging between +1 and -1.

Coefficient of Determination

The coefficient of determination is the square of the correlation (r) between predicted y scores and actual y scores; thus, it ranges from 0 to 1. With linear regression, the coefficient of determination is also equal to the square of the correlation between x and y scores.