Use the Following to Answer the Question(s) Below

question 4

Multiple Choice

Use the following to answer the question(s) below.
Below is Excel output showing the coefficient of correlation between personal income and vacation expenses (both in $thousands) for a large sample of clients of one travel agency in Toronto.
-What percent of the variation of vacation expenses can be explained by variation of personal income?

• A) 69.1%
• B) 47.7%
• C) 83.1%
• D) 52.3%
• E) 30.9%

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Definitions:

Agent's Authority

The scope of power given to an agent to act on behalf of a principal in legal or financial matters.

Termination

The act of ending or concluding something, such as a contract, employment, or agreement, through specific actions or by operation of law.

Dissolution

The process of legally dissolving a corporation or partnership, ending its existence as a legal entity.

Partnership End

The dissolution or termination of a business partnership, often due to the retirement, death, or withdrawal of a partner.