Correlation Coefficient: The correlation coefficient is a numerical value that indicates the strength and direction of the linear relationship between two variables. It ranges from -1 to 1, with -1 indicating a perfect negative correlation, 0 indicating no correlation, and 1 indicating a perfect positive correlation.
Hypothesis Testing: Hypothesis testing is a statistical method used to determine whether a claim or hypothesis about a population parameter, such as the correlation coefficient, is supported by the sample data.
Significance Level: The significance level, denoted as α, is the probability of rejecting the null hypothesis when it is true. It is a predetermined value, often set at 0.05 or 0.01, that represents the maximum acceptable probability of making a Type I error (rejecting the null hypothesis when it is true).