We Can Best Predict the Value of One Variable from the Value

question 515

Multiple Choice

We can best predict the value of one variable from the value of another variable if the two variables have a correlation coefficient of:

• A)+0.00
• B)-0.50
• C)-0.75
• D)+0.60

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Definitions:

Inventory

Goods and materials that a business holds for the ultimate goal of resale or processing.

Interest Costs

The expenses incurred by borrowing money or the costs associated with the use of credit.

Multiple Discriminant Analysis

A statistical technique used to classify observations into predefined categories based on a set of predictor variables.

Statistical Technique

Methods and procedures used to collect, analyze, interpret, and present data to support decision-making.