Mindtap Economics, 1 Term (6 Months) Printed Access Card For Arnold's Macroeconomics, 13th
13th Edition
ISBN: 9781337621397
Author: Arnold, Roger A.
Publisher: Cengage Learning
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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.
True
False
Which one of the following is not true about slope?
A, It is vertical change over horizontal change
B, The slope of a line represents the change in one variable that occurs when the other variable changes
C, The slope of straight line between any two point on the line is negative
D Slope= y2-y1/x2-x1
Chapter A Solutions
Mindtap Economics, 1 Term (6 Months) Printed Access Card For Arnold's Macroeconomics, 13th
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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.arrow_forward1. 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_forward
- You are given the function y=11−1.5x. The slope of the equation is enter your response here. (Round your answer to one decimal place.)arrow_forwardA zero slope shows: positive relationship between two variables no relationship between two variables does not show anything negative relationship between two variablesarrow_forwardSuppose 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_forward
- How you would mitigate the effect of autocorrelation in the analysis.arrow_forwardQuestion 10 A moderating variable influences the original relationship between one or more independent variables and a dependent variable. True Falsearrow_forwardA firm keeps a record of sales and prices over the past seven months, resulting in the following table: Price (ZMW/ton) Sales (tons) Nov. 1985 7.5 84.5 Dec. 8.0 82.0 Jan. 1986 8.0 84.0 Feb. 7.2 92.0 March 7.0 95.0 April 8.0 92.0 May 8.5 91.5 Use these observations to estimate demand as a linear function of both price and time. Further, utilise this function to estimate demand for the following month, on the assumption that: (a) price remains unchanged, (b) price increases to ZMW9/ton. Hence estimate the price elasticity of demand between these prices and find the price which would maximise sales revenue. Given the nature of the observations, comment on any difficulties in interpreting your results for decision-making purposes.arrow_forward
- Erin grows pecans. The number of bushels (B) that she can produce depends on the number of inches of rainfall (R) that her orchards get. The relationship is given algebraically as follows: B = 3,000 + 800R. Match each part of this equation with the correct term. B slope 3,000 dependent variable 800 vertical intercept R independent variablearrow_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_forwardTrue/ false (6-8) 6. Two variables that have a positive correlation move in the same direction. True/ False 7. The concept of slope can be used to answer questions about how much one variable responds to changes in another variable. True/ False 8. The slope of a line is equal to the change in the x-variable divided by the change in the y-variable. Trie/ False hp & 7 8 9. 5.arrow_forward
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