If the Coefficient of Correlation Is

question 56

Multiple Choice

If the coefficient of correlation is .8, the percentage of variation in the dependent variable explained by the variation in the independent variable is

• A) .80%.
• B) 80%.
• C) .64%.
• D) 64%.

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Definitions:

External Social Cost

Costs of production or consumption that affect individuals not involved in the transaction, often unaccounted for by the market price.

Efficient Level

Describes a state where resources are allocated in the most effective manner, maximizing output and outcomes.

Marginal Social Benefit

The incremental advantage to the community from the consumption or production of an additional unit of a product or service.

Pollution

is the introduction of contaminants into the natural environment that cause adverse changes, affecting air, water, and land quality detrimentally.