What correction should be made to the echo statements in the code to resolve the error?

The issue in the code is that the variables $num1 and $num2 are not concatenated correctly within the echo statements. To resolve the error, we need to enclose the variables within curly braces {} to properly concatenate them with the strings in the echo statements.

$num1 = 10;
$num2 = 20;

echo "The sum of {$num1} and {$num2} is: " . ($num1 + $num2) . "<br>";
echo "The product of {$num1} and {$num2} is: " . ($num1 * $num2) . "<br>";