Question: Question 18 (4 points) In a study done in Wisconsin, it was found that the correlation coefficient between the number of new homes built and

Question 18(4 points)

In a study done in Wisconsin, it was found that the correlation coefficient between the number of new homes built and the number of diamond rings purchased is - .01.Which of the following statements best describe the relationship between new homes built and number of diamond rings purchased?

Question 18 options:

Building new homes causes less diamond rings to be purchased.A new home is expensive, and new home buyers probably can't afford additional luxury items like diamond rings.

There is a very weak assocation between new homes built and number of diamond rings purchased.In fact, they are probably indendent of each other since the correlation coefficient is almost 0.

Purchasing a diamond ring causes less homes to be built.

There is a strong association between new home sales and diamond ring purchases, but we can't be certain of the exact nature of the relationship.

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