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The fact that people with higher incomes get to consume more goods and services addresses the
Part of one of the two big economic questions.
Coefficient Of Correlation
A statistical measure that calculates the strength and direction of the linear relationship between two variables, represented by values between -1 and 1.
Coefficient Of Determination
A measure used in statistical analysis that assesses the goodness of fit of a model, representing the proportion of variance in the dependent variable that is predictable from the independent variable(s).
Regression Analysis
A statistical method for modeling the relationship between a dependent variable and one or more independent variables.
Independent Variables
Variables in an experiment or model that are manipulated or controlled by the researcher to investigate their effect on dependent variables.
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