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Quick!! Please answer this multiple choice. Cost of Living Plus Rent Index (CLPR) is a relative estimate of consumer goods prices including rent in a city and Local Purchasing Power (LPP) is an estimate of relative purchasing power for buying goods and services. The following scatter plot is produced using CLPR and LPP of different cities. Given the image below, what is the smallest range of numbers that will necessarily contain the correlation coefficient? CLPR vs LPP 140 120 100 80 60 6 40 20 0 120 160 180 200 80 100 140 0 20 40 60 Local Purchasing Power Index (LPP)a. -1 to 1

b. 0 to 1

c. -1 to 0

d. 0 to 140

0 0
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Answer #1

Correlation coefficient can lie between -1 to 1 .

Here since scattered point falls in positive direction hence the smallest range of correlation coefficient can lie between 0 to 1

Correct option is (B)

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Quick!! Please answer this multiple choice. a. -1 to 1 b. 0 to 1 c. -1...
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