You use a line of best fit for a set of data to make a prediction about an unknown value. The correlation coefficient for your data set is 1. How confident can you be that your predicted value will be reasonably close to the actual value?
If the correlation coefficient for the data set is 1, it means that there is a perfect positive linear relationship between the variables. In this case, you can be very confident that your predicted value will be reasonably close to the actual value. However, it is important to note that correlation does not imply causation, and there may be other factors or variables that influence the relationship between the variables in the data set.
