Mathematical Probability Theory
In statistics, 'r' represents the correlation coefficient, a numerical measure that quantifies the strength and direction of the linear relationship between two variables. The value of 'r' ranges from -1 to 1, where 1 indicates a perfect positive correlation, -1 indicates a perfect negative correlation, and 0 indicates no correlation. Understanding 'r' is crucial for analyzing relationships between variables and assessing the fit of regression models.
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