The Closer the Correlation Coefficient Is to 1 or -1

question 11

Short Answer

The closer the correlation coefficient is to 1 or -1, the __________ the correlation.

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Definitions:

Isocost

A line representing all combinations of production factors that have the same total cost.

Capital

Refers to financial resources or assets owned by a business or individual that are used to generate wealth through investment or production.

Slope

In mathematics and economics, it refers to the measure of the steepness or incline of a line, often representing the rate of change between variables.

Isocost

Lines representing all combinations of inputs that have the same total cost.