Many of those who have the best of intentions with respect to learning what the Pearson correlation coefficient is all about end up giving up quickly because in most cases, the explanations they come across are boring and overly-complicated.
Sure, this video could have simply involved me displaying the formula and repeating a textbook definition, it would have been the easiest thing in the world. However, I did my best to explain the Pearson correlation coefficient in such an easy-to-understand manner that it would be harder NOT to understand it.
In other words, this explanation of the Pearson correlation coefficient (with an intuitively displayed formula and straightforward examples) is no way an effort on my part to sound smart. My goal has actually been the exact opposite: helping people understand that statistics in general and the correlation coefficient in particular can actually be both easy to understand and... dare I say it... fun :)
The two other One Minute Economics videos references in this clip are:
Covariance:
• The Covariance Explained in One Minute: De...
and
Standard Deviation:
• The Standard Deviation (and Variance) Expl...
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