Examlex
In a regression equation where y-hat is demand and x is advertising,a coefficient of determination (R2)of .70 means that 70% of the variance in advertising is explained by demand.
Marginal Utility
The extra pleasure or advantage gained from using an additional unit of a product or service.
Dozen Oysters
A quantity of twelve oysters, often used as a standard unit of sale in seafood markets.
Total Utility
The total satisfaction received from consuming a particular amount of goods or services.
Beers
Alcoholic beverages made from yeast-fermented malt flavored with hops.
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