STATISTICAL TECHNIQUES AND TOOLS
CORRELATION COEFFICIENT COEFFICIENT OF DETERMINATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The correlation coefficient, r, is always between ____ and ____
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0 and 1
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-1 and 1
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-1 and 0
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None of the above
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Explanation:
Detailed explanation-1: -Possible values of the correlation coefficient range from-1 to +1, with-1 indicating a perfectly linear negative, i.e., inverse, correlation (sloping downward) and +1 indicating a perfectly linear positive correlation (sloping upward). A correlation coefficient close to 0 suggests little, if any, correlation.
Detailed explanation-2: -The correlation coefficient can – by definition, that is, theoretically – assume any value in the interval between +1 and −1, including the end values +1 or −1. 0 indicates no linear relationship.
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