Which of the Following Measures of Association Can Range in Value

question 2

Multiple Choice

Which of the following measures of association can range in value from −1.00 to 1.00?

• A) Cramer's V
• B) lambda
• C) multiple correlation coefficient
• D) Pearson's r

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Definitions:

Adjusting Entry

An accounting journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.

Asset Account

An account on a company's balance sheet representing resources owned by or owed to the company that have economic value.

Expense Account

An account used to record expenses in accounting, representing money spent or costs incurred in an entity's operations to generate revenues.

Closing Journal Entries

Entries made at the end of an accounting period to transfer the balances in temporary accounts to permanent accounts, preparing the books for the next period.