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?
Yes, a correlation coefficient of -0.833 indicates a strong negative linear relationship between the two variables in the data set. This means that as one variable increases, the other variable decreases in a consistent manner.
Therefore, with such a strong negative correlation, it is likely that the line of best fit will accurately predict the unknown value. However, it is important to note that the strength of the correlation coefficient does not guarantee the accuracy of the prediction. It is still possible for outliers or other factors to influence the predicted value.