Cramér's V is a statistical measure used to assess the strength of association between two categorical variables. It ranges from 0 to 1, where 0 indicates no association and 1 indicates a perfect association. This measure is derived from the Chi-squared test, which evaluates whether the observed frequencies in a contingency table differ from expected frequencies. To calculate Cramér's V, the Chi-squared statistic is divided by the product of the total number of observations and the minimum of the number of rows minus one and the number of columns minus one in the contingency table. This normalization allows for a standardized interpretation of the association strength.