Answer the Question Using the Value of R and the Given

question 38

Multiple Choice

Answer the question using the value of r and the given best-fit line on the scatter diagram.
- The scatter diagram and best-fit line show the data for the number of cars waiting by a school (y) and the amount of time after the end of classes (x) . The correlation coefficient r is -0.55. Predict the number of cars at time 8
After the end of classes.

• A)6
• B)No valid prediction is possible.
• C)5

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Definitions:

Premium Price

Charging a higher price for goods or services, typically justified by the perceived higher quality or uniqueness.

Cost Leadership Strategy

A business approach aimed at becoming the lowest cost producer in an industry, allowing a firm to offer its products or services at the lowest price possible.

Wal-Mart

A multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, known for its low prices.

Market Synergy

The enhanced value or performance achieved when two or more companies or product lines complement and strengthen each other in the marketplace.