12. 2: Covariance and the Correlation Coefficient Example \(\PageIndex{2}\) Uniform marginal distributions Figure 12 2 2 Uniform marginals but different correlation coefficients Consider the three distributions in Figure 12 2 2
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Descriptive Statistics: Must-Know Questions and Answers for Data . . . It standardizes covariance to lie in [–1, +1], making the strength and direction of the linear relationship comparable across different variable scales Q Why can covariance alone be misleading when comparing relationships across different pairs of variables?
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