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Ypsilanti Market Research conducted a survey to find out whether people who earn more money purchase more expensive goods. The following graph indicates the relationship

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Ypsilanti Market Research conducted a survey to find out whether people who earn more money purchase more expensive goods. The following graph indicates the relationship between income the survey subjects earned and the price of the home that they purchased. 500 450 400 150 300 PRICE (Thousands of dollars per home) 250 700 150 100 0 10 30 60 70 MO INCOME (Thousands of dollars per year 50 100 300 250 PRICE (Thousands of dolla 200 150 100 50 O 0 10 20 30 40 50 80 70 80 INCOME (Thousands of dollars per year) DO 100 The variable shown on the horizontal axis is The units for the variable on the vertical axis are There are two ways to view the information presented on the graph. First, the graph tells us the amount a person with a certain income is likely to Spend on a home, and second, it tells us the probable income of a person who spent a certain amount on a home. For example, if an individual earned $30,000 last year and purchased a new home, you would expect that person to have paid about for the home. Similarly, if someone just paid $150,000 for a home, you could use this graph to estimate that this person's income was probably around

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