Final answer:
Statement (b) is incorrect because standardized betas and correlation coefficients, while both indicating the strength and direction of a relationship, convey different information. Correlation coefficients measure the linear relationship between two variables, while beta coefficients come from regression analysis and give insight into the relative importance of predictors in a model.
Step-by-step explanation:
All of the following are true of standardized beta (β) and correlation coefficients EXCEPT: Standardized betas describe the relationship between two variables exactly as correlation coefficients do. The false statement here is (b) Standardized betas describe the relationship between two variables exactly as correlation coefficients do. While both standardized beta coefficients and correlation coefficients indicate the strength and direction of a relationship, they are not identical in the information they provide.
A correlation coefficient, usually represented by the letter r, can range from -1 to +1 and informs us about the strength and direction of a linear relationship between two variables. It tells us how variables change together, but it does not imply causation.
A beta coefficient is a standardized measure that comes from regression analysis; it expresses the change in the dependent variable for every one-unit change in the predictor variable, taking into account the other variables in the model. Standardized beta coefficients can only be compared within the same regression analysis, and unlike correlation coefficients, they can provide insights into the relative importance of predictor variables within a model.
Thus, statement (b) is incorrect because standardized betas and correlation coefficients, although related, convey different information about the variables in question.