Which of the following best describes the correlation coefficient? A)it is a standardized measure and can take on values from -1 to +1 B)it is the covariance of two variables divided by the product of the individual standard deviations C)values near -1 represent a strong negative linear relationship D)for samples it is denoted by r_xy E)all of the above

Question

Quizplus · Accepted Answer

The correlation coefficient is indeed a standardized measure that ranges from -1 to +1 (A), is calculated as the covariance of two variables divided by the product of their standard deviations (B), and values near -1 indicate a strong negative linear relationship (C). The notation in D, while not universally recognized in the provided form, suggests the sample correlation coefficient, often denoted by $r$, which aligns with the context of correlation coefficients. Therefore, all provided statements (A, B, C, D) correctly describe aspects of the correlation coefficient, making E the correct choice.

Which of the Following Best Describes the Correlation Coefficient