FORESTRY
AGRICULTURAL STATISTICS AND ECONOMICS
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Question
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An agricultural economist says that the correlation between corn prices and soybean prices is r = 0.7. This means that
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when corn prices are above average, soybean prices also tend to be above average.
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there is almost no relation between corn prices and soybean prices.
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when corn prices are above average, soybean prices tend to be below average.
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there is not enough information to determine the relationship between the soybean prices and corn prices.
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Explanation:
Detailed explanation-1: -An agricultural economist says that the correlation between corn prices and soybean prices is r=0.7. This means that, a. when corn prices are above average, soybean prices also tend to be above average.
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