Variance is measured by a coefficient that ranges from 0.0 (there is no relationship between two variables) to 1.00 (we can, with perfect accuracy, predict the second variable by knowing the first).

Question

Quizplus · Accepted Answer

This statement is incorrect as variance is a measure of how spread out a set of data is, while the coefficient mentioned in the statement is known as the correlation coefficient (or coefficient of determination). The correlation coefficient ranges from -1 (perfect negative relationship) to 1 (perfect positive relationship), with 0 indicating no relationship between two variables.

Variance Is Measured by a Coefficient That Ranges from 0