Answer:
The correct statements regarding correlation coefficient are:
1. Its absolute value cannot exceed 1.
2. A positive value indicates a strong correlation between the two variables; a negative value indicates a weak correlation between the two variables.
3. If X and Y have positive correlation coefficient, when we run a regression analysis Y=a+bX+e, we will find b positive.
4. If X and Y have positive correlation coefficient, when we run a regression analysis Y=a+bX+e, we will find a positive.
Step-by-step explanation:
Correlation measures the strength of the relationship which exists between X and Y variables. Regression, on the other hand, helps to establish a cause and effect between a dependent variable and an independent variable.
