How is the value of the correlation coefficient related to the accuracy of the predicated value for a specific value x?

The nearer the absolute value of the correlation coefficient is to 1, the higher the accuracy of the predicted value. At r = 0, any prediction based on the independent variable is inaccurate - to the extent of being a waste of time.

The nearer the absolute value of the correlation coefficient is to 1, the higher the accuracy of the predicted value. At r = 0, any prediction based on the independent variable is inaccurate - to the extent of being a waste of time.

The nearer the absolute value of the correlation coefficient is to 1, the higher the accuracy of the predicted value. At r = 0, any prediction based on the independent variable is inaccurate - to the extent of being a waste of time.

The nearer the absolute value of the correlation coefficient is to 1, the higher the accuracy of the predicted value. At r = 0, any prediction based on the independent variable is inaccurate - to the extent of being a waste of time.