Distinguish between a correlation and an autocorrelation. how are these measures similar? how are they different?
Answers
A correlation is a causative association between two or more variables, whereas an autocorrelation is a correlation of variables in successive ranges.
What is correlation?
A correlation is defined as a causative association between two or more variables (different variables), which can be used to make predictions about a given outcome.
The correlation coefficient enables the estimation of this association between different variables.
Moreover, an autocorrelation is a special type of correlation between variables that can be found in successive ranges (e.g. range time intervals).
In conclusion, a correlation is a causative association between two or more variables, whereas an autocorrelation is a correlation of variables in successive ranges.
What is correlation?