Examlex
Instructions: Identify the terms and briefly state their historical significance.
Sadi's Rose Garden
Correlation Coefficient
A statistical measure that calculates the strength and direction of a linear relationship between two variables on a scatterplot.
Covariance
A measure of how two variables move together, indicating the direction of their linear relationship.
Standard Deviation
A statistical measure that quantifies the variability or dispersion of a set of data points or investment returns around the mean.
Utility Function
A mathematical representation of a consumer's preferences, used in economics to model choices made under uncertainty, to maximize satisfaction or utility.
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