The correlation coefficient for your data set is -0.833. Can you be confident that your predicted value will be reasonably close to the actual value? Why or Why not?
Yes, you can be confident that your predicted value will be reasonably close to the actual value based on the correlation coefficient of -0.833. The correlation coefficient measures the strength and direction of the linear relationship between two variables, ranging from -1 to 1. In this case, a value of -0.833 indicates a strong negative correlation. This means that as one variable increases, the other variable tends to decrease. The closer the correlation coefficient is to -1 or 1, the stronger the relationship. Therefore, a correlation coefficient of -0.833 suggests a strong negative linear relationship between the variables in your dataset. Consequently, when making predictions using this dataset, the predicted values are likely to be reasonably close to the actual values. However, it is important to note that correlation does not imply causation, and other factors or relationships might also be influencing the data.
