Which of the following statements is true regarding correlation coefficient and covariance? Correlation coefficient has no unit of measure, while covariance has a unit of units of x units of y ' measure of Both correlation coefficient and covariance do not have any units of measure. Both correlation coefficient and covariance could assume positive and negative values. O Correlation coefficient is another name used for covariance. Correlation coefficient has a unit of measure of units of X x units of Y,while covariance does not have a unit of measure.

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Which of the following statements is true regarding correlation coefficient and
covariance?
Correlation coefficient has no unit of measure, while covariance has a unit of
units of x
measure of
units of y
Both correlation coefficient and covariance do not have any units of measure.
Both correlation coefficient and covariance could assume positive and negative
values.
OCorrelation coefficient is another name used for covariance.
Correlation coefficient has a unit of measure of
units of X x units of Y, while covariance does not have a unit
of measure.
Transcribed Image Text:Which of the following statements is true regarding correlation coefficient and covariance? Correlation coefficient has no unit of measure, while covariance has a unit of units of x measure of units of y Both correlation coefficient and covariance do not have any units of measure. Both correlation coefficient and covariance could assume positive and negative values. OCorrelation coefficient is another name used for covariance. Correlation coefficient has a unit of measure of units of X x units of Y, while covariance does not have a unit of measure.
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