Covariance Definition/Meaning:

A measure of the joint variation of two random variables, analogous to variance (see measures of variation). If the variables are x and y then the covariance of x and y is

∑ (x_i - x)(y_i - y)

The analysis of covariance is an extension of the analysis of variance in which the variables to be tested are adjusted to take account of assumed linear relationships with other variables. See also correlation.

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