If the Coefficient of Correlation Between Machine Hours and Utilities

question 34

Multiple Choice

If the coefficient of correlation between machine hours and utilities cost is equal to 0.98 (r = 0.98) , the correlation is

• A)positive.
• B)negative.
• C)not related.
• D)none of the above.

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Definitions:

Binomial Random Variable

A type of random variable that results from an experiment consisting of a fixed number of independent trials, each with two possible outcomes (success or failure).

Hypergeometric Probability

The probability of a certain number of successes in draws, without replacement, from a finite population that contains exactly two kinds of objects.

Finite Population

A population set that contains a limited number of distinct units or elements.

Hypergeometric Probability

The probability of obtaining a specific number of successes in a finite population without replacement, ideal for modeling scenarios where the probability changes on each draw.