Final answer:
The statement is false; GPA is positively correlated with study time, as more hours spent studying can lead to a higher GPA.
Step-by-step explanation:
The assertion that the variables GPA and study time are likely to be inversely related is false. According to an example equation for GPA determination, GPA = 0.25 x combined_SAT + 0.25 × class_attendance + 0.50 × hours_spent studying, it shows a positive correlation between study time and GPA, where increasing hours spent studying will likely raise one's GPA. This is because study time has the highest weight (0.50) compared to the other factors, indicating its significant impact on GPA.