What is covariance?
An example of an AI chatbot conversation about understanding covariance in statistics.
Can you explain what covariance is?
Covariance is a measure of how much two random variables change together. It indicates the direction of their relationship.
How is covariance different from correlation?
While both measure relationships between variables, covariance indicates direction, while correlation measures strength and direction.
Can you give me an example of covariance?
Sure! If the height and weight of individuals are measured, a positive covariance indicates that taller people tend to weigh more.
What does a negative covariance mean?
A negative covariance means that as one variable increases, the other tends to decrease, indicating an inverse relationship.
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