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The correlation coefficient (often denoted as "r") quantifies the strength and direction of a linear relationship between two variables. A strong positive correlation (e.g., r = 0.9) indicates that as one variable increases, the other tends to increase as well. For instance, a high correlation between advertising spend and sales confirms their strong linear relationship, observed in the scatter plot. This metric is critical for assessing relationships before performing regression or predictive modeling. Why Other Options Are Wrong : A) Standard deviation measures variability, not relationships. C) Mean difference compares group averages, not correlations. D) P-value tests hypotheses but doesn’t quantify relationships. E) Variance measures the spread within a single variable, not between two.
According to the Economic Survey 2023-24, what measures helped reduce core inflation in India to a four-year low in FY24?
If a country’s policy makers were to continuously use expansionary monetary policy in an attempt to hold unemployment below the natural rate the long-...
Expansionary fiscal policy in the classical model will cause aggregate demand to-----potential output?
GDP at market price is given by?
Lorenz Curve is given by:
L(x) = 1/3 (X^3) + 2/3 (x^5). Calculate Gini Coefficient.
What is the dual problem for given linear programming problem?
Z = Max (4x1 + 5x2 + 7x3)
s.t. 3x1 + x2 + 6x3 <= 3
x1 + 2x2 + x...
A country imposes a 10% tariff on imported vehicles but no tariff on imports of machinery or other inputs to the manufacture of vehicles. Suppose that u...
Which of the following is not correct regarding adjusted R2?
...For the following demand curve, Q=10P-2 , calculate the profit made by the monopolist when Marginal cost is Rs.2
Consider the following production function
Q = 20L – 0.2L2 – 20K + 0.2 K2 + 4KL
If 20 units of capital i...