Correlation between Numerical Variables - Estimating a linear correlation coefficient

3 important questions on Correlation between Numerical Variables - Estimating a linear correlation coefficient

Give the symbols for correlation coefficient of a population and of a sample.

Correlation in population: ρ
Correlation in sample: r

The correlation coefficient is calculated from the sum of squares and the sum of products. What is the difference between these two?

The sum of products measures how deviations of X and Y vary together.
The sum of squares are the standard deviations within X and Y.

What does a r=1 mean for the correlation between X and Y?

There is a positive linear correlation, all points lie in a straight line.

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