A high R-square statistic of +1 indicates a perfect level of correlation between costs and the cost driver.

Name: A high R-square statistic of +1 indicates a perfect level of correlation between costs and the cost driver.
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Question

Quizplus · Accepted Answer

A high R-square statistic indicates a strong correlation between two variables, but it does not necessarily indicate a perfect correlation. A perfect correlation would be indicated by an R-square statistic of 1.

A High R-Square Statistic of +1 Indicates a Perfect Level