Exhibit 14-9 A Regression and Correlation Analysis Resulted in the Following Information

question 2

Multiple Choice

Exhibit 14-9
A regression and correlation analysis resulted in the following information regarding a dependent variable (y) and an independent variable (x) .
-Refer to Exhibit 14-9. The coefficient of determination equals

• A)0.6472
• B)-0.6472
• C)0

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Definitions:

Demand

The desire and ability of consumers to purchase goods and services at different prices, reflecting how much of a product consumers are willing and able to buy.

Surge Prices

A dynamic pricing strategy that increases prices in response to high demand and limited supply, commonly used in ride-sharing services.

Determinants of Market Demand

Factors that influence the total demand for a product or service in a market, including price, income levels, tastes, and population demographics.

Law of Demand

A principle that states there is an inverse relationship between the price of a good or service and the quantity of it that consumers are willing to purchase.