Final answer:
The percentage of variation in the dependent variable explained by the estimated regression equation is 64%.
Step-by-step explanation:
When the coefficient of correlation is 0.8, the percentage of variation in the dependent variable explained by the estimated regression equation is 64%.
To determine this, we use the formula for the coefficient of determination, which is the square of the correlation coefficient. So, (0.8)^2 = 0.64. This means that 64% of the variation in the dependent variable can be explained by the variation in the independent variable using the regression equation.