The instructor in your International Economics course asks your class to investigate factors associated with the gross domestic product (GDP) of nations. Each student examines a different factor (such as Life Expectancy, Literacy Rate, etc.) for a few countries and reports to the class. Apparently, some of your classmates don't understand statistics very well, because several of their conclusions are incorrect. Explain the mistakes they made.

a) “There was a very strong correlation of 1.22 between Life Expectancy and GDP.”

b) “The correlation between Literacy Rate and GDP was 0.83. This shows that countries wanting to increase their standard of living should invest heavily in education.”