i. The purpose of correlation analysis is to find how strong the relationship is between two variables. ii. A coefficient of correlation of -0.96 indicates a very weak negative 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) (i), (ii), and (iii) are all false statements.

Question

Quizplus · Accepted Answer

Statement (i) is correct because the purpose of correlation analysis is indeed to find the strength of the relationship between two variables. Statement (ii) is incorrect because a correlation coefficient of -0.96 actually indicates a strong negative correlation (since the coefficient ranges from -1 to 1, where -1 indicates a perfect negative correlation). Statement (iii) is correct because the standard error of estimate does measure the accuracy of our prediction. Therefore, only options (i) and (iii) are correct, but not option (ii).

I the Purpose of Correlation Analysis Is to Find How