True or False: Correlation can be expressed on a range from +1 to -1.

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Prepare for the University of Central Florida GEB4522 Data Driven Decision Making Exam 2. Utilize interactive quizzes, flashcards, and detailed explanations to excel in your test. Enhance your decision-making skills and ace the exam!

Correlation is a statistical measure that describes the strength and direction of a relationship between two variables. It is indeed expressed on a range from +1 to -1. A correlation of +1 indicates a perfect positive relationship, meaning that as one variable increases, the other variable also increases perfectly. Conversely, a correlation of -1 indicates a perfect negative relationship, where as one variable increases, the other decreases perfectly. A correlation of 0 implies no relationship between the variables.

This range of values captures the full spectrum of possible relationships, making it essential for understanding how closely two variables are related, either positively or negatively. Thus, stating that correlation can be expressed on a range from +1 to -1 is accurate.