Statistics For Business And Economics

Which of the following statements regarding regression and correlation are true? (There may be more than one correct answer.)

a If the value of the linear correlation coefficient, r, is near -1, then the data viewed as a scatterplot is tightly bundled around some line, and predictions made with the line of best fit within the scope of data are reliable.

b. When the linear correlation coefficient is positive, then the slope of a linear regression equation must be negative.

c. If the linear correlation coefficient is near -1, then the slope of the related least squares line will also be dose to -1

d. If the linear correlation coefficient is close to 0 in value, then the best prediction model to use for any value of the independent variable is the mean(average) of the dependent variable values.

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