If r 1 you can predict Y exactly if you know XSolutionIt is

If r = -1, you can predict Y exactly if you know X.

Solution

It is TRUE. [ANSWER]

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\"Strong\" correlation means an absolute value of r being close to 1. The closer it is to 1, the closer the points are to the line.

It it is exactly 1, then the points perfectly lie on the line.

Thus, you can predict y exactly. The standard errors would become 0.