How Many Variables Are Required to Calculate a Correlation Coefficient

question 48

Multiple Choice

How many variables are required to calculate a correlation coefficient?

• A)0
• B)1
• C)2
• D)3

---

Definitions:

Demand Function

A mathematical representation showing the quantity of a good or service consumers are willing and able to purchase at different prices.

Tickets

Official documents or electronic codes that grant the holder permission to enter an event, travel on a vehicle, or participate in a particular activity.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of demand to price changes.

Demand Function

Indicates the relationship between the quantity of a good demanded by consumers and the good’s price.