Question

Which of the following is a measure of association between two variables?

	a.	covariance
	b.	correlation coefficient
	c.	coefficient of determination
	d.	options a), b) and c) are all correct
	e.	options a), b) and c) are all incorrect

Answer 1

although covaraice coefficient of determination and correlation coeficeint are same.

There is just a difference of transformations in these

like

and

where

is the coefficient of determination

and

is correlation coefficient  

So the best measure to capture the association between two varaibles is correlation coefficient

its range is between -1 to 1