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C
Question Practice

Why is it important to calculate the correlation coefficient in economic studies?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Economics
Statistics for Economics
Correlation
Question Bank

Why is it important to calcula...

Single Answer MCQ
Q-00063068

Why is it important to calculate the correlation coefficient in economic studies?

1

To determine causation between variables

2

To measure the strength and direction of a relationship

3

To predict future outcomes accurately

4

To ensure data accuracy

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What type of correlation occurs when both variables move in the same direction?

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Q2.

Which of the following is an example of negative correlation?

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Q3.

Which relationship represents a perfect positive correlation?

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Q4.

A scatter diagram is primarily used to determine what?

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