Your teacher will grade your responses to the follow questions to ensure you receive proper credit for your answers. <br> 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 -0.833" Can you be confident that your predicted value will be reasonably close to the actual value? Why or why not?
No, we cannot be confident that the predicted value will be reasonably close to the actual value solely based on the correlation coefficient. The correlation coefficient indicates the strength and direction of the relationship between the variables, but it does not guarantee the accuracy of predictions. A correlation of -0.833 suggests a moderately strong negative relationship, but other factors such as outliers, nonlinearity, or other variables not accounted for could affect the accuracy of the prediction. Therefore, additional analysis and evaluation, such as examining residuals or considering the sample size, should be conducted to determine the reliability of the predicted value.
