Final answer:
The percent of the variance that is shared between x and y when the correlation coefficient is .94, is 88%, which is the coefficient of determination (r²).
Step-by-step explanation:
The correlation between x and y is given as .94. To find the percent of the variance that is shared variance (the coefficient of determination), you need to square the correlation coefficient (r). Therefore, the coefficient of determination, denoted as r², is .94² which equals 0.8836. When expressed as a percentage, this is 88.36%, which can be rounded to 88%. Hence, the answer is a. 88%.
In the context of regression analysis, this means that 88% of the variation in the dependent variable y can be explained by the variation in the independent variable x, using the best-fit regression line.