Given the Linear Correlation Coefficient R and the Sample Size

question 57

Multiple Choice

Given the linear correlation coefficient r and the sample size n, determine the critical values of r and use your finding to state whether or not the given r represents a significant linear correlation. Use a significance level of 0.05 .
r=0.767, n=25

• A) Critical values: r= ±0.487 , significant linear correlation
• B) Critical values: r= ±0.396 , no significant linear correlation
• C) Critical values: r= ±0.396 , significant linear correlation
• D) Critical values: r= ±0.487 , no significant linear correlation

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Definitions:

Perfectly Competitive

A market structure characterized by a large number of buyers and sellers, homogenous products, and no barriers to entry or exit.

Duopoly Market

A market structure dominated by only two producers or sellers, leading to a form of competition that significantly impacts pricing and output decisions.

Merging Firms

The process where two or more companies combine into a single company, often to expand market share, reduce costs, or increase competitiveness.

Identical Product

A product that is exactly the same in every feature, quality, and production process with another product, making them interchangeable.