Economics (Book Only)
12th Edition
ISBN: 9781285738321
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter A, Problem 4QP
To determine
The slope.
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What is the slope of the line to the equation P=30−1/2Q?
In a straight line, the value of the slope differs in different points in the line.
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“The hotter it gets, the more water people drink.” This statement implies that the relationship between temperature and water consumption must have a ____________.
positive slope.slope always equal to one.slope always equal to 45 degrees.negative slope.
Chapter A Solutions
Economics (Book Only)
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- 1. Solve the following problem by using Excel for graph sketching. A soda vendor at Louisiana State University football games observes that more sodas are sold the warmer the temperature at game time is. Based on 32 home games covering five years, the vendor estimates the relationship between soda sales and temperature to be y = -240 + 8x, where y = the number of sodas she sells and .x = temperature in degrees Fahrenheit, (a) Interpret the estimated slope and intercept. Do the estimates make sense? Why, or why not? (b) On a day when the temperature at game time is forecast to be 80°F, predict how many sodas the vendor will sell. (c) Below what temperature are the predicted sales zero? (d) Sketch a graph of the estimated regression line.arrow_forwardSuppose the relationship between the government's tax revenue (T) and national income (Y) is represented by the equation T = 30 +0.5Y. Plot this relationship on a scale diagram, with Y on the horizontal axis and T on the vertical axis. Interpret the equation. Use the line drawing tool to draw the equation. Make sure to plot the vertical axis as one endpoint of the line. Properly label this line. Carefully follow the instructions above, and only draw the required objects.arrow_forwardA zero slope shows: positive relationship between two variables no relationship between two variables does not show anything negative relationship between two variablesarrow_forward
- Suppose the relationship between the government's tax revenue (T) and national income (Y) is represented by the equation T=10+0.25Y. Plot this relationship on a scale diagram, with Y on the horizontal axis and T on the vertical axis. Interpret the equation.arrow_forwardHow you would mitigate the effect of autocorrelation in the analysis.arrow_forwardThe table gives information about the relationship between two variables, x and y. The relationship between x and y is ______ and the slope of the relationship ______ as x increases. x 2 4 6 8 10 y 196 192 188 184 180arrow_forward
- Question 10 A moderating variable influences the original relationship between one or more independent variables and a dependent variable. True Falsearrow_forwardUse a software of your own choice to calculate the daily log prices (lp) and daily log returns (Ir) i. Examine the descriptive statistics of both lp and Ir. What do you conclude about the distributions of lp and Ir? Is lp normally distributed? Is Ir normally distributed? Obtain the correlograms, and examine the autocorrelations and partial autocorrelations for both lp and Ir. What do you conclude about the behaviour of lp and Ir? Are they stationary/non-stationary? ii. iii. Are your conclusions about stationary/non-stationary of lp and lr confirmed by appropriate unit root tests?arrow_forwardWrite the equations of the vertical and horizontal lines through the point (- 1.8, - 3.6). The equation of the vertical line is (Type an equation.)arrow_forward
- Write the equations of the vertical and horizontal lines through the point (- 1.3, - 3.7). The equation of the vertical line is (Type an equation.) The equation of the horizontal line is (Type an equation.)arrow_forwardHand written solutions and AI solutions are strictly prohibitedarrow_forwardThe slope of IC2 from A to B is: Good X 10 IC 8. IC, 10 12 Good Yarrow_forward
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