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, we can be confident that the predicted value will be reasonably close to the actual value. A correlation coefficient of -0.833 indicates a strong negative linear relationship between the variables in the dataset. This suggests that as one variable increases, the other variable decreases. Therefore, the predicted value will be reasonably close to the actual value based on this strong negative relationship. However, it is important to note that the correlation coefficient alone does not provide information about the accuracy or precision of the predictions. Other factors such as the variability of the data or the presence of outliers should also be considered.
