Describe the relationship indicated by the correlation coefficient, r = 0.46. ○ Loosely clustered in a negative linear fashion ○ Loosely clustered in a positive linear fashion ○ No linear relationship ○ Tightly clustered in a negative linear fashion ○ Tightly clustered in a positive linear fashion

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter7: Production Economics
Section: Chapter Questions
Problem 1.3CE
Question
Describe the relationship indicated by the correlation coefficient, r =
0.46.
Transcribed Image Text:Describe the relationship indicated by the correlation coefficient, r = 0.46.
○ Loosely clustered in a negative linear fashion
○ Loosely clustered in a positive linear fashion
○ No linear relationship
○ Tightly clustered in a negative linear fashion
○ Tightly clustered in a positive linear fashion
Transcribed Image Text:○ Loosely clustered in a negative linear fashion ○ Loosely clustered in a positive linear fashion ○ No linear relationship ○ Tightly clustered in a negative linear fashion ○ Tightly clustered in a positive linear fashion
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