The ______ of a Pearson Correlation (R) Assesses the ______

question 28

Multiple Choice

The ______ of a Pearson correlation (r) assesses the ______ of the relationship between two variables

• A) linearity; predictability
• B) probability; direction
• C) numeric value; strength
• D) sign (+/-); strength

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Definitions:

Demand Curve

A graphical chart representing the association between how much an item costs and the level of demand for it by shoppers.

Short Run

A period in economics during which at least one factor of production is fixed and cannot be changed.

Monopolistic Competitor

A firm that operates in a market with many competitors but differentiates its product from others, giving it some control over its price.

Short Run

Describes a period in economics where at least one factor of production is fixed and cannot be changed, limiting the adjustments a firm can make to its output.