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How is the value of a country's exports listed in its balance of payments account?
Correlation Coefficients
Numeric measures that describe the strength and direction of the relationship between two variables.
Direct Correlation
A statistical relationship between two variables where both variables move in the same direction.
Nondirectional Correlation
Nondirectional correlation describes the relationship between two variables without specifying whether the relationship is positive or negative, indicating only that a correlation exists.
Unidirectional Correlation
A correlation where an increase in one variable is consistently associated with an increase or decrease in another variable, without reversals in direction.
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