i. The purpose of correlation analysis is to find how strong the relationship is between two variables.
ii. A correlation coefficient of -1 or +1 indicates perfect correlation.
Iii) The standard error of estimate measures the accuracy of our prediction.
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) All statements are false

Question

i. The purpose of correlation analysis is to find how strong the relationship is between two variables. 
ii. A correlation coefficient of -1 or +1 indicates perfect correlation.
Iii) The standard error of estimate measures the accuracy of our prediction.
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) All statements are false

Quizplus · Accepted Answer

All three statements are correct: (i) describes the purpose of correlation analysis, (ii) correctly states that a correlation coefficient of -1 or +1 indicates perfect correlation, and (iii) accurately defines the standard error of estimate.

I the Purpose of Correlation Analysis Is to Find How