Which of the Following Statements Is TRUE Concerning the Correlation

question 114

Multiple Choice

Which of the following statements is TRUE concerning the correlation coefficient?

• A)it can take on values between -1 and +1.
• B)it is a standardized value (has no units).
• C)values near -1 indicate a strong negative linear relationship.
• D)values near 0 indicate little or no relationship.
• E)all of the above

---

Definitions:

American Citizens

Individuals who hold citizenship in the United States of America, either by birth or naturalization.

Inelastic Good

A product or service whose demand does not significantly change with a change in its price, indicating consumers' necessity or lack of substitutes.

Gasoline Expenditures

The total amount of money spent by consumers on gasoline, encompassing both retail purchases for vehicles and other uses.

Public Transportation

A system of vehicles such as buses, trains, and subways, provided by the government or private companies, for the purpose of transporting large numbers of people.