If X and Y Are Two Variables with

question 114

True/False

If X and Y are two variables with , , and COV(X, Y) = 11.76, then the coefficient of correlation = 0.8.

---

Definitions:

Total Utility

The total satisfaction or benefit that a consumer receives from consuming a particular quantity of goods or services.

Indifference Analysis

An economic tool used to analyze and understand consumer preferences, showing combinations of goods between which a consumer is indifferent.

Numerically Measurable

Quantifiable or able to be expressed in numerical terms and measured.

Convex

A shape where a line drawn between any two points on the structure will lie outside it, often used in economics to describe preference curves.