What Does It Mean If Someone Tells You That They

question 63

Multiple Choice

What does it mean if someone tells you that they calculated a correlation of -0.75?

• A)There is a strong negative relationship between two ratio or interval level variables.
• B)There is statistical independence between the two variables.
• C)The variables that were used were measured at the nominal level and the relationship between them is strong.
• D)The researcher looked at two ordinal-level variables and found no relationship between them.
• E)The person made an error in calculation: correlations can never be negative numbers.

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Definitions:

Opportunity Costs

The cost of foregone alternatives; the benefits one misses out on by choosing one option over another.

Nations

Politically organized territories with defined borders, a common government, and a shared cultural or historical identity.

Technologies

Encompasses the collection of techniques, skills, methods, and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation.

Comparative Advantage

The ability of an individual, company, or nation to produce a good or service at a lower opportunity cost than its competitors.