Which of the Following Statements Is TRUE Concerning a Correlation

question 75

Multiple Choice

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

• A) A restricted range in either correlated variable makes the correlation lower.
• B) A correlation coefficient provides information regarding causation.
• C) No meaning is attached to the sign of a correlation coefficient, since the coefficient is ultimately squared.
• D) Restriction of range is now illegal in the 48 contiguous states.

Distinguish between cases and variables in the context of data collection.

Comprehend the importance of specifying units of measurement in data collection and reporting.

Identify and evaluate the role of descriptive statistics in summarizing and presenting data.

Understand the concept of variables and how they can be categorized (e.g., age, weight, type of contribution).

---

Definitions:

Agricultural Market

A marketplace where products from agriculture such as grains, vegetables, and livestock are traded.

Price Floor

A government or regulatory intervention that sets the lowest price at which a good or service can be legally sold, aimed at protecting producers.

Current Price

The price at which a good or service is being sold in the market at the present moment.

Excess Supply

A situation in the market where the quantity of a good offered by producers exceeds the quantity demanded by consumers at a given price, leading to surplus.