A Correlation of .80 Suggests That

question 58

Multiple Choice

A correlation of .80 suggests that

• A)the scores on X and Y are not related.
• B)standardized scores on the Y axis are expected to be .8 times the corresponding scores on the X axis.
• C)scores on Y will be 80% larger than corresponding scores on X.
• D)the differences between X and Y are statistically nonsignificant.

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Definitions:

Price Discrimination

A strategy by a provider to sell the same or almost the same goods or services at various prices in different markets.

Efficiency

The optimal allocation of resources in a way that maximizes productivity or utility.

Price Discrimination

Price discrimination involves a seller charging different prices for the same product or service to different customers, based on factors like demand, customer attributes, or purchase volume.

Monopolistic Competition

Monopolistic competition describes a market structure where many firms sell products that are similar but not identical, allowing for some degree of market power and price setting.