💖 WELCOME TO YOU INTRODUCTION Correlation is very useful for economists and mainly for psychologists to study relationship between TWO variables. we not only measure the existing relationship but also we can measure the importance of relationship between them.  Concept of correlation OR Meaning of correlation Correlation refers to the relationship between two variables is known as correlation. or in other words (It refers to the relation between an independent variable and a dependent variable). So, It helps to analyse the relationship between two or more variables.    It is a statistical technique which measures the quantitative relationship between different variables.  for example, relationship between : Price and demand Price and supply Demand and other determinants or determinant variables..... Correlation compulsorily lies between +1 and -1 only. that means, if the correlation value (Coefficient value) is more than +1 or -1, it is invalid or wrong.  Defin...