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The question is: 3 random variables x, y, z. Correlation between x and y is 0.8 and between x and z is 0.8. Find maximum and minimum correlation between y and z.
I don't think we have sufficient information for solving this. All correlation does is provides us information about linear relation between two variables and has no information regarding the amount of variation of one variable when the other changes i.e. slope.
So, the solution appears incorrect to me. What am I missing here?
Thanks
I don't think we have sufficient information for solving this. All correlation does is provides us information about linear relation between two variables and has no information regarding the amount of variation of one variable when the other changes i.e. slope.
So, the solution appears incorrect to me. What am I missing here?
Thanks