Give an economic relationships ( with one response and one explanatory variable) in which correlation is possible. Discuss why autocorrelation exist in the relationship.
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Give an economic relationships ( with one response and one explanatory variable) in which correlation is possible. Discuss why autocorrelation exist in the relationship.
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- If you were studying the following relationship, which variable would be exogenous and which would be endogenous? The relationship between the amount of sunshine and plant growth. Plant growth is and Sunshine isExplain which of the following is the independent variable and which is the dependent variable for each of the following examples. Once you determine the price of a flash drive at the college bookstore, you will decide how many flash drives to buy. You will decide how many credit hours to register for this semester once the university tells you how many work-study hours you will be assigned. You anticipate earning a higher grade on your economics exam because you studied more hours in the weeks preceding the exam.Construct a table from the data shown on the graph below. Which is the dependent variable and which the independent variable? Summarize the data in equation form.
- Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following table: Maroon 5 TV Appearances Demand for Guitars This exercise contains only part a. a) Graph these data using the point drawing tool. The plotted graph shows a pattern that can be described by: A. Seasonality C. Random variations 3 5 8 7 7 79 3 5 6 6 10 7 B. Trend O D. Cycles 12- 11- 10- 9- 8- 7- 6- 5- 4- 3- 2- 1- 0- Guitar Demand 4 TV Appearances -00 10 11Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following table: Maroon 5 TV Appearances Demand for Guitars This exercise contains only part a. a) Graph these data using the point drawing tool. The plotted graph shows a pattern that can be described by: A. Seasonality C. Random variations 3 5 8 7 7 70 3 5 6 6 10 7 B. Trend D. Cycles C 12- 11- 10- 9. 8- 7- 6- 5- 4- 3- 2- 1- 0- 0 Guitar Demand 1 2 3 5 4 TV Appearances 8 9 10 11The demand for goods and services is essentially influenced by several things, state and explain and make the relationship between variables statistically between independent variables and dependent variables!
- What type pf correlation does the graph show ?Please explain to me what every different variable means in this questionA kids' organization sold 570 bars last year at $ 2.55 per candy bar. Research has suggested that for each $ 0.25 price increase, they will sell 20 less candy bars. They want to know what price should they sell their candy bars at to maximize their revenue. Please help them out, showing your work neatly in the following steps. And please label the steps clearly with the letters A through F A) Define your variables. This means that for every letter you use to represent a value, you communicate what it equals in words. B) Find the linear equation that relates the price and the number sold. C) Determine a function that represents the Revenue. (Remember, Revenue = (Price)*(Number Sold)). D) Graph your revenue function on your calculator or Desmos or something similar and on your paper, labeling the axes and the maximum point. E) Uusing your calculator or Desmos or something similar, use your graph to determine the price that maximizes the revenue for the organization. Do NOT use calculus…