- 1 Marks
Question
If is the correlation coefficient calculated for a bivariate data, then which one of the following is correct?
A. r=±
B. −1<r≤1
C. −1<r<1
D. −1≤r<1
E. −1≤r≤1
Answer
Answer: E. −1≤r≤1
Explanation:
The correlation coefficient r for a bivariate dataset lies between -1 and 1, inclusive. The value of indicates the strength and direction of the linear relationship between two variables. If r=−1 or r=1, the relationship is perfectly linear. Therefore, the correct range is −1≤r≤1, corresponding to option E.
- Tags: Bivariate Data, Business Statistics, Correlation
- Level: Level 1
- Topic: Statistics
- Series: MAY 2017
- Uploader: Kwame Aikins