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 0.109. How confident can you be that your predicted value will be reasonably close to the actual value?
• a) I can’t be confident at all; this is about as close to a random guess as you can get
• b) I can be a little confident; it might be close, or it might be way off
• c) I can be very confident; it will be close, but it probably won’t be exact*******
• d) I can be certain that my predicted value will match the actual value exactly
I dont understand what he meant, what was the answer?
what does a low correlation coefficient mean?
What kind of value indicates a "close" approximation?
Thanks! I understand what you meant and made a better choice
To determine how confident you can be in your predicted value, you need to consider the correlation coefficient. The correlation coefficient measures the strength and direction of the linear relationship between two variables. It ranges from -1 to 1, where values close to -1 or 1 indicate a strong relationship, and values close to 0 indicate a weak relationship.
In this case, the correlation coefficient is 0.109, which is close to 0. Since the coefficient is low, it suggests a weak or negligible linear relationship between the variables. Consequently, you cannot be very confident that the predicted value will be reasonably close to the actual value.
Therefore, the most appropriate answer is:
• b) I can be a little confident; it might be close, or it might be way off