Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter A, Problem 5QP
To determine
The slope.
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What is the slope of the line to the equation P=30−1/2Q?
24
PRICE (Dollars per box)
21
18
15
12
0
0
6 12 18 24 30 36 42 48
QUANTITY (Thousands of boxes)
54
60
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Point
In a straight line, the value of the slope differs in different points in the line.
True
False
Chapter A Solutions
Economics (MindTap Course List)
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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_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_forwardWhich 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-x1arrow_forward
- 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_forwardHow you would mitigate the effect of autocorrelation in the analysis.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
- The predicted value of Y is... a. The value that y takes on when X equal 0 b. The effect that a one unit change in dependent variable is expected to have on the independent variable, holding all else constant c. The value of Y when the slope is multiplied a specific X and then that value is added to the intercept d. The observed value of the dependent variable that is associated with a specific value of the independent variable.arrow_forwardYou 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_forwardErin 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_forward
- The 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_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_forwardQuestion 10 A moderating variable influences the original relationship between one or more independent variables and a dependent variable. True Falsearrow_forward
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ISBN:9781337617383
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Publisher:Cengage Learning