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, you can be confident that your 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, a correlation coefficient of -0.833 indicates a strong negative linear relationship between the variables. This means that as one variable increases, the other variable decreases.
Using a line of best fit, you can estimate the unknown value based on the relationship of the other known data points. While the prediction may not be exact, the strong negative correlation suggests that it will be reasonably close to the actual value.