Question

It was found that ice cream sales decrease significantly as the temperature outside decreases; a very strong relationship was found. What is the most likely correlation coefficient from this hypothetical study

Answer 1

Answer:

Value closest to 1

Explanation:

It is described from the scenario above that ice cream sales decreases as the outside temperature increases, hence showing a strong relationship between both variables (icream sales and temperature). The correlation Coefficient is a metric used in regression modeling to depict the strength of relationship between two variables, (The dependent and independent variables). Correlation Coefficient ranges from (-1 to +1). With values close to 1 or - 1. Also the positive and negative signs are used to show the type of relationship between the variables. If an increase in variable A leads to a decrease in variable B, then we have negative correlation (-) ; while an increase or decrease in both variables depicts a positive correlation. The most likely correlation Coefficient for the study above will be a positive value which is close to 1 since the relationship is described as strong.