If Two Variables Have a Correlation Coefficient Equal to 0

question 22

True/False

If two variables have a correlation coefficient equal to 0.005, this means that there is no relationship between the two variables.

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Definitions:

Excel Function

A prebuilt formula in Microsoft Excel that performs calculations, manipulates data, or performs other specific tasks.

P-Value

A statistical measure that helps scientists determine the significance of their research results, indicating the probability of observing the observed results, or more extreme, by chance if the null hypothesis is true.

Observed Significance Level

The probability of observing the given result, or one more extreme, by chance if the null hypothesis is true. It is often denoted as the p-value.

Probability Density Function

A function that describes the relative likelihood for a continuous random variable to occur at a specific point.