I Correlation Analysis Is a Group of Statistical Techniques Used

question 13

Multiple Choice

i. Correlation analysis is a group of statistical techniques used to measure the strength of the relationship (correlation) between two variables. ii. A correlation coefficient of -1 or +1 indicates perfect correlation.
iii. The strength of the correlation between two variables depends on the sign of the coefficient of correlation.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Expense Accounts

Accounts that track the costs of operating a business, such as rent, utilities, and salaries.

Identification Codes

Unique codes used to identify and track items or information in various systems.

Balances

The amounts of money in accounts, whether they are liabilities, assets, or equity, at a specific point in time.

Source Documents

Original records or documents that provide evidence of transactions and details necessary for accounting, such as invoices, receipts, and contracts.