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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A sample of 8 households was asked about their monthly income (x) and the number of hours they spend connected to the internet each month (y) .The data yield the following statistics:
,
,
,
,
-Determine the sample correlation coefficient between x and y.
Return on Investment
A measure used to evaluate the efficiency of an investment, calculated as net profit divided by the cost of the investment.
Markup
The increment added to the acquisition cost of products to address company overheads and earn profit.
Absorption Costing
An accounting method where all manufacturing costs, including both variable and fixed, are absorbed by the products.
Cost-plus Pricing
A pricing strategy where a fixed percentage or specified amount is added to the production cost to determine the sell price of a product or service.
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