The student will calculate and construct the line of best fit between two variables.
The student will evaluate the relationship between two variables to determine if that relationship is significant.
Collect the data
Use the most recent April issue of Consumer Reports. It will give the total fuel efficiency (in miles per gallon) and weight (in pounds) of new model cars with automatic transmissions. We will use this data to determine the relationship, if any, between the fuel efficiency of a car and its weight.
Using your random number generator, randomly select 20 cars from the list and record their
weights and fuel efficiency into
[link] .
Weight
Fuel Efficiency
Which variable should be the dependent variable and which should be the independent
variable? Why?
By hand, do a scatterplot of “weight” vs. “fuel efficiency”. Plot the points on graph paper.
Label both axes with words. Scale both axes accurately.
Analyze the data
Enter your data into your calculator or computer. Write the linear equation, rounding to 4 decimal places.
Calculate the following:
a = ______
b = ______
correlation = ______
n = ______
equation:
ŷ = ______
Obtain the graph of the regression line on your calculator. Sketch the regression line on the
same axes as your scatter plot.
Discussion questions
Is the correlation significant? Explain how you determined this in complete sentences.
Is the relationship a positive one or a negative one? Explain how you can tell and what
this means in terms of weight and fuel efficiency.
In one or two complete sentences, what is the practical interpretation of the slope of the least
squares line in terms of fuel efficiency and weight?
For a car that weighs 4,000 pounds, predict its fuel efficiency. Include units.
Can we predict the fuel efficiency of a car that weighs 10,000 pounds using the least
squares line? Explain why or why not.
Answer each question in complete sentences.
Does the line seem to fit the data? Why or why not?
What does the correlation imply about the relationship between fuel efficiency and
weight of a car? Is this what you expected?
Are there any outliers? If so, which point is an outlier?
Questions & Answers
What are the factors that affect demand for a commodity
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
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