If the Coefficient of Correlation Is a Positive Value, Then

question 135

Multiple Choice

If the coefficient of correlation is a positive value, then

• A)the intercept must also be positive
• B)the coefficient of determination can be either negative or positive, depending on the value of the slope
• C)the regression equation could have either a positive or a negative slope
• D)the slope of the line must be positive

---

Definitions:

Perfectly Inelastic

Describes a situation where the demand for a good does not change in response to a change in price.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, defined as the percentage change in quantity demanded divided by the percentage change in price.

Demand Curve

A diagram displaying the connection between a product or service's price and the amount requested over a specified timeframe.

Price Elasticity

A gauge of the responsiveness of the amount of a product desired to alterations in its cost, reflecting demand's sensitivity to changes in price.