True/False
You are given the following sample data for two variables:
The sample correlation coefficient for these data is approximately r = 0.755.
Distinguish between different types of goods (normal, inferior) based on income and price elasticity.
Grasp the concept of consumer surplus and the impact of reservation prices.
Understand the aggregation of individual demand curves into market demand.
Analyze the effects of external factors (e.g., bad weather, increased consumer base) on market demand and revenue.
Definitions:
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