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Econometrics

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Correlation Definition

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The correlation coefficient is used to determine

A

a specific value of a random variable $Y$ conditional on a specific value of a random variable $X$.

B

only the direction with which a random variable $Y$ changes when there is a change in the random variable $X$.

C

both the direction and strength of the change in random variable $Y$ when there is a change in the random variable $X$.

D

only the strength of the change in the random variable $Y$ when there is a change in the random variable $X$.