If All the Points in a Scatter Diagram Lie on the Least

question 144

Multiple Choice

If all the points in a scatter diagram lie on the least squares regression line,then the coefficient of correlation must be:

• A)1.0
• B)−1.0
• C)either 1.0 or −1.0
• D)0.0

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Definitions:

Marginal Product

The increase in output that results from an additional unit of input.

Returns to Scale

Refers to the rate at which output increases as inputs are proportionately increased, categorizing into increasing, constant, or decreasing returns.

Carpet Industry

The sector of the economy specialized in the manufacture and sale of carpets and rugs.

Mills

Factories or plants that process and manufacture products from raw materials.