The phi coefficient is a measure of association for two binary variables, providing an indication of the strength and direction of their relationship. It ranges from -1 to +1, where values closer to +1 indicate a strong positive association, values closer to -1 indicate a strong negative association, and a value of 0 suggests no association. This metric is particularly useful in the context of chi-square tests for independence, as it quantifies the degree to which two categorical variables are related.
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