Perfectly correlated data have a CD of determination of 1. It is not the slope of the regression line. Rather, it is a measure of the amount of scatter about the line. We will talk about this a lot more in the second class. This one gave many people trouble.
Most people understand alpha, or probability level, quite well.
It is also known as Type 1 error, or the likelihood that you have rejected a true null hypothesis. Power is the probability of rejecting a false null. This is known as Type 2 error. Precise calculation of power uses sample size and variability. Power is equal to 1-beta, and it can be increased by increasing the sample size or decreasing the variance.