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 is set -0.993. how confident can you be that your predicted value will be reasonably close to the actual value?
The correlation coefficient, in this case, indicates a strong negative linear relationship between the variables. Therefore, you can be reasonably confident that the predicted value will be close to the actual value. However, it is important to note that the correlation coefficient alone does not provide information about the accuracy of the prediction. To make a more accurate assessment of the prediction's reliability, you should consider other factors such as the scatter of the data points around the line of best fit and the potential presence of outliers.
