Which of the following statements is NOT true about Pearson's product-moment correlation coefficient 'r'?

1
'r' is simply a measure of the degree to which the two variables vary together.
2
'r' is a non-parametric measure of the relationship between the two variables measured on nominal and ordinal scale.
3
The value of 'r' lies between -1.0 and +1.0.
4
'r' value is liable to spurious high if outliers are present in the data.

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