Question - What is meant by Correlation and Covariance?
Answer -
Correlation is a mathematical concept used in statistics and probability theory to measure, estimate, and compare data samples taken from different populations. In simpler terms, correlation helps in establishing a quantitative relationship between two variables.
Covariance is also a mathematical concept; it is a simpler way to arrive at a correlation between two variables. Covariance basically helps in determining what change or affect does one variable has on another.