Which of the following statements is true about uncorrelated variables?

Uncorrelated variables are defined as variables that do not show any systematic relationship with one another. In statistical terms, uncorrelated variables have a correlation coefficient of zero. This means that knowing the value of one variable does not provide any information about the value of the other variable, indicating that they operate independently of each other.

When two variables are independent, it means that the occurrence or value of one does not affect the occurrence or value of the other. This concept is crucial in various fields, including economics, where understanding that two uncorrelated variables do not influence one another can help isolate factors that might affect economic outcomes. This is fundamental when analyzing data, as it allows researchers to understand the individual contributions of each variable without the distortion caused by correlations.

In contrast, direct relationships, influences on each other, and positive correlations imply some degree of dependency or connection between the variables, which is not the case with uncorrelated variables. Thus, the statement regarding their independence captures the essence of what it means for two variables to be uncorrelated.