Question

For the following pair of​ variables, state the units that might be used to measure each...

For the following pair of​ variables, state the units that might be used to measure each variable. Then state whether you believe that the two variables are correlated. If you believe they are​ correlated, state whether the correlation is positive or negative. Explain your reasoning.

Price of Gasoline and sport utility vehicle (SUV).

To measure the price of gas, the unit _ might be used

To measure sales, the unit _ might be used

What​ correlation, if​ any, is there between the​ variables?

A. There is a positive correlation because SUV sales tend to increase when the price of gas increases.

B. There is a positive correlation because SUV sales tend to increase when the price of gas decreases

C. There is a negative correlation because SUV sales tend to increase when the price of gas increases

D There is a negative correlation because SUV sales tend to increase when the price of gas decreases

E. The variables are not correlated

0 0
Add a comment Improve this question Transcribed image text
Answer #1

SUMMARY:-

UNIT- WE CAN USE NUMBER OF SUV SALE.

ALSO IN THE GIVEN OPTIONS ,OPTION D IS CORRECT CORRELATION

Add a comment
Know the answer?
Add Answer to:
For the following pair of​ variables, state the units that might be used to measure each...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • For the following pair of variables, state whether you believe the two variables are correlated. If...

    For the following pair of variables, state whether you believe the two variables are correlated. If you believe they are correlated, state whether the correlation is positive or negative. Explain your reasoning. The time it takes to run a marathon and the order of finish (first second, etc.) Choose the correct answer below. A. Positive correlation because unning it in less time will result in a lower finish order B. Negative correlation because running it faster will result in a...

  • Variables typically included in a multivariate demand function (other than the price and quantity of the...

    Variables typically included in a multivariate demand function (other than the price and quantity of the item the demand function represents) are consumer tastes and preferences, the number of buyers, spendable (disposable) income, prices of substitute goods, prices of complementary goods, advertising expenditures, weather, and expectations. Recalling that the price of the item being considered is placed on the vertical axis, and the quantity on the horizontal axis, the other variables are termed demand shifters. Please answer the following questions...

  • 1. Which of the following measures is not used as a measure of association for nominal,...

    1. Which of the following measures is not used as a measure of association for nominal, nonparametric variables? a. chi-square b. phi c. Cramer's V d. Contingency coefficient C e. Z score 2. The question of "How strongly are sales related to price when the effect of brand loyalty is controlled?" is best answered using _____. a. regression analysis b. partial correlation c. ANOVA d. product-moment correlation e. gamma 3. Which ordinal measure is a refinement of gamma for ordinal...

  • SPSS: Correlation Use SPSS or Excel to calculate the appropriate correlation coefficient for the following data...

    SPSS: Correlation Use SPSS or Excel to calculate the appropriate correlation coefficient for the following data for “Hours of Exercise” and “Life Satisfaction.” (0 = Not at all satisfied). Provide an APA-style results section write – up. (b) Graph the relationship. HINT: Below you will find instructions for the APA-style write-up. Complete the write-up on a word document and upload the file for submission. Hours of Exercise Life Satisfaction 2 6 0 2 5 13 6 15 1 3 2...

  • Pick a minimum of 20 observations on any subject. This will include a dependent variable plus...

    Pick a minimum of 20 observations on any subject. This will include a dependent variable plus two independent variables that you may think are either negatively or positively correlated with the dependent variable. List the observed data (include the source). Then do the following: a. State before doing any calculations whether you think they are positively or negatively correlated. What is your rationale? Example: I test for a correlation between the quantity of coffee that people buy (Y) with the...

  • 1. Which of the following conditions will lead to a smaller variance for the intercept estimator...

    1. Which of the following conditions will lead to a smaller variance for the intercept estimator for your multiple regression model? (A) X values cluster far from the origin of the X axis (B) X values closely pack around the mean of X in your sample (C) Small sample sizes (D) High correlation among the explanatory variables (E) Small error variance in the population regression function 2. R-squared (A) measures the proportion of variability of the dependent variable that is...

  • 1. State whether the following statements are true or false. _1. The value of b in...

    1. State whether the following statements are true or false. _1. The value of b in the regression equation is known as the intercept. 2. The more the points are separated in a scatter diagram, the greater the degree of association between the variables. 3. The main reason for expressing the relationship between two variables through a regression equation is to be able to estimate the value of one variable when the value of another is known. 4. The closer...

  • h Not aximizing my utility (satisfaction) because I could have bought other jeans for a lower...

    h Not aximizing my utility (satisfaction) because I could have bought other jeans for a lower price b. Not maxim m utty tried, because they are in stvle Iam imizing my utility (satisfaction) because I could not get more enjoyment from a lower priced 35, I bu y designer jeans even though they are high-priced, because they are in style. I am jean c. Maximizing my uility satisfaction) because I derive utility not only from wearing jeans but from being...

  • Which one of the following is a good candidate to forecast the cyclical component for the future?...

    Which one of the following is a good candidate to forecast the cyclical component for the future? HES SES WES All of the above In OLS, deviations of predicted values from actual values are called Residuals Population errors Random deviations All of the above When computing the MAt, _________ is(are) removed Seasonality and irregular fluctuations Seasonality, irregular fluctuations, and cyclical movements Seasonality and cyclical movements Irregular fluctuations and cyclical movements A common source of unusual coefficient estimate signs and statistical...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT