Hello Allstat,
We all have been taught that given two random variables the coefficient of correlation (cc) between them lies in [0,1]. The larger the value of cc the better correlated are the variables. As so far I am concerned, I cannot remember if a clear demarcation line between correlation and noncorrelation does exist. Is there a minimum value of cc from which can someone confidently state two variables are correlated? Yes, I have been told about weakly/strongly correlated but not about minimum point-value to consider a strong correlation.
Thank you,
Ray Haraf.
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