Question

You use a line of best fit for a set of data to make a prediction about an unknown value. The correlation coefficient for your data set is 0.109. How confident can you be that you’re predicted value were reasonably close to the actual value.

Answer 1

You cannot be very confident that your predicted value is reasonably close to the actual value since the correlation coefficient is so low. A correlation coefficient of 0.109 indicates that there is a very weak relationship between the two variables.