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A value of R = 1 indicates an exact linear relationship between x and y. Values of R close to 1 indicate excellent linear reliability. If the correlation coefficient is rather far from 1, the forecasts based on the linear relationship, y = mx + b, will be less dependable.
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Elementary Statistics, Fourth Edition, McGraw Hill, 2008, Allan G...
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A value of R = 1 indicates an exact linear relationship between x and y. Values of R close to 1 indicate excellent linear reliability. If the correlation coefficient is rather far from 1, the forecasts based on the linear relationship, y = mx + b, will be less dependable.
References
Elementary Statistics, Fourth Edition, McGraw Hill, 2008, Allan G...
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General points of the essay
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