ECON 1100 Chapter Notes - Chapter 2- Appendix : Scatter Plot, Negative Number

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17 Sep 2018
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G(cid:364)1phs: often depict the (cid:364)el1tionship bet(cid:405)een t(cid:405)o economic (cid:404)1(cid:364)i1bles. A (cid:404)1(cid:364)i1ble is 1 (cid:363)u1ntit(cid:411) th1t c1n t1ke one mo(cid:364)e th1n one (cid:404)1lue (cid:806)the numbe(cid:364) of (cid:411)e1(cid:364)s 1 pe(cid:364)son h1s, the p(cid:364)ice of 1 c1n of sod1 etc. (cid:807) The ho(cid:364)izont1l 1(cid:410)is is 1lso kno(cid:405)n 1s the (cid:410)-1(cid:410)is. Ve(cid:364)tic1l 1(cid:410)is 1lso is kno(cid:405)n 1s the (cid:411)-1(cid:410)is. O(cid:364)igin is the points (cid:405)he(cid:364)e the t(cid:405)o 1(cid:410)es meet e1ch (cid:404)1(cid:364)i1ble is e(cid:363)u1l to ze(cid:364)o. Most g(cid:364)1phs th1t (cid:364)ep(cid:364)esent (cid:364)el1tionships bet(cid:405)een t(cid:405)o (cid:404)1(cid:364)i1bles 1ctu1ll(cid:411) depict 1 c 1us1l (cid:364)el1tionship. The (cid:404)1lue t1ken b(cid:411) one (cid:404)1(cid:364)i1ble di(cid:364)ectl(cid:411) influences o(cid:364) dete(cid:364)mines the (cid:404)1lue t1ken b(cid:411) the othe(cid:364). In this (cid:364)el1tionship, the(cid:364)e is both the independent (cid:404)1(cid:364)i1ble (cid:806)the tempe(cid:364)1tu(cid:364)e(cid:807) 1nd the dependent (cid:404)1(cid:364)i1ble (cid:806)the c1ns of sod1 sold depending on the (cid:405)e1the(cid:364)(cid:807) B(cid:411) con(cid:404)ention, the independent is the x-1(cid:410)is 1nd the )epend1nt is the. The line on 1 g(cid:364)1ph is 1 cu(cid:364)(cid:404)e, (cid:405)hich depicts the (cid:364)el1tionship bet(cid:405)een the t(cid:405)o (cid:404)1(cid:364)i1bles.

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