Whenever a Strong Relationship Exists Between Variables, Prediction of One

question 12

Multiple Choice

Whenever a strong relationship exists between variables, prediction of one variable from other variables ___________.

• A) is impossible
• B) is possible
• C) cannot be determined

---

Definitions:

Decision Making

The process of selecting among available alternatives based on the preferences and values of the decision-maker.

Sunk Cost

A cost that has already been incurred, cannot be recovered, and thus is irrelevant for present and future economic decisions.

Nonrefundable Plane Ticket

A type of airline ticket that cannot be returned for a refund, typically offered at a lower price than refundable tickets.

Overnight Mail

Overnight mail is a shipping service that guarantees delivery of a package or letter to its destination by the next business day.