Final answer:
Power analysis cannot guarantee the presence of a significant correlation coefficient, but it helps determine the required sample size for a study.
Step-by-step explanation:
Power analysis cannot guarantee that you would find a statistically significant correlation coefficient. Instead, it helps determine the number of participants you need to include in a study to have a high enough statistical power to detect a significant correlation if it exists.
Power analysis takes into account factors such as desired statistical power, significance level, effect size, and sample size. By manipulating these factors, researchers can estimate the required sample size for a study.
Therefore, the statement 'Power analysis can tell you how many people you need to test in order to guarantee that you would find a statistically significant correlation coefficient' is FALSE.