STATISTICAL TECHNIQUES AND TOOLS
REGRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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I only
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II only
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I and II only
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I, II and III
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Detailed explanation-1: -Correlation coefficients whose magnitude are between 0.9 and 1.0 indicate variables which can be considered very highly correlated. Correlation coefficients whose magnitude are between 0.7 and 0.9 indicate variables which can be considered highly correlated.
Detailed explanation-2: -Random scatter in the residuals indicates a model with high predictive power. +1.0 or-1.0. III. The higher the correlation between two variables the more likely the association is based in cause and effect.
Detailed explanation-3: -When the linear correlation coefficient is 1, there is a perfect positive linear relation between the two variables. The scatter diagram would contain points that all lie on a line with a positive slope.