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 an you be confident that your predicted value will be reasonably close to the actual value? Why or why not?
Yes, we can be confident that the predicted value will be reasonably close to the actual value. The correlation coefficient measures the strength and direction of the linear relationship between two variables. In this case, since the correlation coefficient is -0.833, which is close to -1, it indicates a strong negative linear relationship between the variables. This means that as one variable increases, the other variable tends to decrease. The line of best fit can therefore be seen as a good representation of the data, allowing us to make accurate predictions. However, it is also important to consider other factors such as the scatter and distribution of the data points around the line of best fit to assess the reliability of the prediction.
