Question
Suppose that Y=MX+b, where Y=consumption, b=consumption at zero income M=slope and Xincome. Are Yand X positively related or are they negatively related? If graphed would
Suppose that Y=MX+b, where Y=consumption, b=consumption at zero income M=slope and Xincome.
Are Yand X positively related or are they negatively related?
If graphed would the curve for this equation slope upward or šlope downward?
Are the variables Y and Xinversely related or directly related?
What is the value of Y if b = 11 M = 50 and X = 200?
What is the value of Xif Y = 100 b = 10 , and M = 25.
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Probability And Statistics
Authors: Morris H. DeGroot, Mark J. Schervish
4th Edition
9579701075, 321500466, 978-0176861117, 176861114, 978-0134995472, 978-0321500465
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