Correct Answer - Option 2 : 48%
Coefficient of correlation is 'r' value. It will be equal to (bxy*byx)1/2
= 0.6 x 0.8)1/2
= (0.48)1/2
= 0.6928
R2 is known as the coefficient of determination which explains the percentage variation in the dependent variable explained by the independent variable.
R2 = r*r = (0.6928)2 = 0.4799 or multiply with 100 to obtain in percentage form, i.e, 47.99% or 48% approximately.
It means 48% variations in Y are explained by X.