Excel's __________ Function Can Be Used to Compute the Sample

question 101

Multiple Choice

Excel's __________ function can be used to compute the sample correlation coefficient.

• A)MAX
• B)COVAR
• C)VAR
• D)CORREL

---

Definitions:

AVC Curve

A graph representing the Average Variable Cost of producing different quantities of output, typically showing how AVC decreases and then increases.

Market Demand

The overall sum of a particular good or service that every customer in a market is eager and able to acquire at a range of prices.

Equilibrium Price

The market price at which the quantity demanded equals the quantity supplied, leading to market equilibrium.

Purely Competitive Market

A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price-taking behavior.