Suppose the correlation coefficient between an explanatory variable (the size of a person’s home, measured in square feet) and a response variable (the amount they spend on alcohol per year, measured in US Dollars) is 0.34. If we change the units used to measure their home size from square feet to square meters, which of the following will be **true**? Assume 1 square foot is roughly 0.09 square meters.

- The new correlation coefficient should be the same: R=0.34
- The new correlation coefficient should be approximately R=0.34×0.09=0.03
- The new correlation coefficient should be approximately R=0.34/0.09=3.78
`The new correlation coefficient should be approximately R=0.34×(0.09)`_{2} = 0.003