Explain what is meant by the term 'correlation coefficient' ?

A correlation coefficient is a value between -1 and =1 which indicates the direction and strength of a relationship between two variables. As you may already know, correlations only depict a relationship between variable x and variable y, with the relationship either being positive, negative or null. Correlation coefficients simply present the relationship in a numerical form. A perfect positive relationship is +1, a perfect negative relationship is -1 and a null relationship is 0. More exact correlation coefficients are:+1 perfect positive+0.7 strong positive+0.5 moderate positive+0.3 weak positive0 null-0.3 weak negative -0.5 moderate negative-0.7 strong negative-1 perfect negative