Final answer:
The statement is true; r = -0.005 signifies a weak negative correlation between the variables, where an increase in one variable results in a decrease in the other.
Step-by-step explanation:
The statement that if r = -0.005, then there is a negative correlation between the variables is true. The correlation coefficient, denoted by r, indicates the direction and strength of a linear relationship between two variables. A negative value of r suggests a negative correlation, meaning that as one variable increases, the other variable tends to decrease, and vice versa. Although r = -0.005 indicates a very weak negative correlation, it is still negative. The value of r ranges from -1 to +1, where -1 indicates a perfect negative correlation, +1 indicates a perfect positive correlation, and 0 indicates no linear correlation at all.