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Unit 3: Part 2

Covariance and Correlation

In the second part of this week's work, which we anticipate will take you about 90 minutes to read, take notes, and attend lecture, you will learn about how to summarize the relationship between two random variables using measures of linear dependence.

Just as the expectation of a random variable is a summary of single random variable, covariance and correlation are summaries of the joint distribution between two variables.