What does the correlation coefficient indicate?
A) outlier jobs
B) "goodness of fit" between the point values and market pay rates
C) slope of regression line
D) pay policy line height

Question

Quizplus · Accepted Answer

The correlation coefficient indicates how well the point values in a data set fit with the market pay rates. It does not indicate outlier jobs, the slope of the regression line, or pay policy line height. Therefore, the best choice is B.

What Does the Correlation Coefficient Indicate