The Appropriate Range for the Coefficient of Correlation (R) Is

question 92

Multiple Choice

The appropriate range for the coefficient of correlation (r) is

• A)0 ≤ r ≤ 1.
• B)−% ≤ r ≤ +%.
• C)−1 ≤ r ≤ 1.
• D)−1 ≤ r ≤ +%.

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Definitions:

Excel Function

A predefined formula in Microsoft Excel that performs calculations using specific values in a particular order.

Mean Absolute Deviation

A statistical measure that quantifies the average absolute deviation of data points from their mean, used to gauge variability within a dataset.

Forecast Error

The difference between the actual value and the value predicted by a forecasting model.

Mean Absolute Percentage Error

A statistical measure used to calculate the accuracy of a forecasting model, expressed as a percentage of error between observed and predicted values.