Which of the Following Statements About the Coefficient of Correlation

question 110

Multiple Choice

Which of the following statements about the coefficient of correlation is true?

• A)Positive correlations are meaningful,but negative correlations are not.
• B)Negative correlations are weak,but positive correlations are strong.
• C)Correlations close to +1.0 or -1.0 are strong,whereas correlations close to 0 are weak.
• D)A strong correlation is indicative of a causal relationship between variables.

Identify and analyze opportunity costs in various economic scenarios.

Understand the basis of rational behavior in economic theory.

Grasp the implications of changes in production possibilities on resource allocation.

Understand the difference between normative and positive economic statements.

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