Question

wrewrite

The correlation coefficient alone is not sufficient to determine whether the
predicted value will be reasonably close to the actual value. The correlation
coefficient only measures the strength and direction of the linear relationship
between two variables, but it does not indicate the accuracy of predictions.

Answer 1

[AI-generated answer — Bot GPT 3.5]

Relying solely on the correlation coefficient is inadequate for assessing the degree of accuracy between predicted and actual values. While the correlation coefficient quantifies the strength and direction of the linear relationship between variables, it does not provide information about prediction precision.