The Following Is a Scatterplot of the Average Final Exam $r = 0.829$

question 351

Essay

The following is a scatterplot of the average final exam score versus midterm score for 11
sections of an introductory statistics class:
The correlation coefficient for these data is $r = 0.829$
29. If you had a scatterplot of the final
exam score versus midterm score for all individual students in this introductory statistics
course, would the correlation coefficient be weaker, stronger, or about the same? Explain.

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Definitions:

Inelastic

A term describing a situation in which the quantity demanded or supplied of a good or service is relatively unresponsive to changes in price.

Elastic

Describes a situation in which the demand for a good or service significantly changes in response to changes in price.

Elastic

Describes a situation where the demand for a product or service significantly changes in response to a change in its price.

Price Elastic

Relating to the responsiveness of the demand or supply of a good or service to changes in its price.