If the Coefficient of Correlation Is −0

question 229

True/False

If the coefficient of correlation is −0.81,then the percentage of the variation in y that is explained by the regression line is 81%.

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Definitions:

Market Price

The existing rate at which an item or service may be traded or acquired in a commercial setting.

Market Output

The total amount of goods or services produced and offered for sale by businesses in a particular market.

External Costs

Costs that are not borne by the producer or consumer of a good or service but by society, such as pollution.