I the Technique Used to Measure the Strength of the Relationship

question 122

Multiple Choice

i. The technique used to measure the strength of the relationship between two sets of variables
Using the coefficient of correlation and the coefficient of determination is called regression analysis.
ii. In order to visualize the form of the regression equation, we can draw a scatter diagram.
iii. A line found using the least squares principle is the best-fitting line because the sum of the
Squares of the vertical deviations between the actual and estimated values is minimized.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Ronald Reagan

The 40th President of the United States, serving from 1981 to 1989, known for his conservative policies, economic initiatives known as Reaganomics, and a strong stance against the Soviet Union.

Taxes

Mandatory financial charges imposed by a government on individuals or entities to fund public expenditures.

Service Sector

The sector of the economy that provides intangible goods and services to consumers, including retail, healthcare, and financial services.

Real Wages

Wages adjusted for inflation, reflecting the actual buying power of income in the economy.