I Correlation Analysis Is a Group of Statistical Techniques Used

question 132

Multiple Choice

i. Correlation analysis is a group of statistical techniques used to measure the strength of the
Relationship (correlation) between two variables.
ii. A correlation coefficient of -1 or +1 indicates perfect correlation.
iii. The strength of the correlation between two variables depends on the sign of the coefficient of
Correlation.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

Understand the implications of income elasticity of demand on consumer buying behavior.

Evaluate the role of elasticity in market adjustments and price volatility.

Understand the role of various medications in treating psychological disorders.

Identify the effects of drug withdrawal and how it impacts mental health.

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Definitions:

Sunlight

The light and energy that comes from the sun, providing warmth and facilitating photosynthesis in plants.

Method of Concomitant Variations

A research method where one observes the effects of the deliberate variation of one factor on a phenomenon to identify causation.

Necessary Condition

A necessary condition is a condition that must be present for an event or state of affairs to occur; without it, the event or state cannot exist.

Sufficient Condition

A condition or set of conditions that, if satisfied, ensures that a certain statement or outcome must be true.