1. A correlation coefficient is calculated as . Provide an interpretation for this correlation coefficient.
2. Explain what a residual is and how this relates to the best-fit regression model.
3. Explain how to interpret the slope of the best-fit line.
4. Explain how to generate a prediction using a linear regression model.
5. Will the sign of the correlation coefficient always be the same as the sign of the slope of the best-fit linear
regression model?