Based on equation $\mathrm{E}=-2.178\times {10}^{-18}\mathrm{J}\left(\frac{{\mathrm{Z}}^{\mathrm{2}}}{{\mathrm{n}}^{\mathrm{2}}}\right)$certain conclusions are written.  Which of them is not correct?

Larger the value of n, the larger is the orbit radius

Equation can be used to calculate the change in energy when the electron changes orbit

For n=1, the electron has a more negative energy than it does for n=6 which means that the electron is more loosely bound in the smallest allowed orbit

The negative sign in equation simply means that the energy of electron bound to the nucleus is lower than it would be if the electrons were at the infinite distance from the nucleus