Cramér’s V is a way to figure out how strongly two things are connected when they’re in categories, like “yes” or “no” answers on a survey. It tells us if there’s a link between them and how strong that link is.
Formula & Variables:
To find Cramér’s V, we use this formula:
$V=\sqrt{\frac{{X}^{2}}{n(k1)}}$
Variables
 $V$: This is Cramér’s V.
 ${X}^{2}$: This is something called the chisquare value.
 $n$: This is how many people or things we’re looking at in total.
 $k$: This is the number of different categories we have.
Why Cramér’s V Matters?
Understanding Cramér’s V helps us in many ways:

Statistics: It’s used a lot in statistics to see how two things relate to each other when they’re in categories.

Research: For researchers, it helps to see connections between things in surveys or experiments.

Decision Making: It’s handy when making decisions based on data, as it tells us if there’s a link between two factors.
How to Find Cramér’s V:
Here’s how to calculate it:

Get the ChiSquare Value: First, figure out the chisquare value from the data.

Know the Basics: Find out how many people or things there are (that’s $n$), and how many categories there are (that’s $k$).

Use the Formula: Put these numbers into the formula $V=\sqrt{\frac{{X}^{2}}{n(K1)}}$ to find Cramér’s V.
FAQs
Q1: What does a high Cramér’s V mean?
A1: A high value, close to 1, shows a strong link between the two things. This means when one thing changes, the other often changes too.
Q2: How is Cramér’s V different from other measures?
A2: Cramér’s V is special for looking at categories, unlike some other ways of measuring connections between things.
Q3: Can Cramér’s V be a negative number?
A3: No, Cramér’s V is always between 0 and 1. Negative numbers don’t make sense here because they would mean the things are linked in a weird way.