In a simple linear regression problem,if 
= 0.95,this means that 95% of the variation in the explanatory variable X can be explained by the regression.
Definitions:
Average Product
The output per unit of input, calculated by dividing the total product by the quantity of input.
Average Product
The output per unit of input, calculated by dividing total output by the total number of units of input.
Production Possibilities
Different combinations of two or more goods and services that can be produced in a given time period, given a certain amount of resources and technology.
Total Product
The overall quantity of output that a firm produces, usually in relation to a given amount of input.
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