If the Points on a Scatterplot Are Clustered in a Pattern

question 329

Multiple Choice

If the points on a scatterplot are clustered in a pattern that extends from lower left to upper right,this would suggest that the two variables depicted are

• A) random samples.
• B) positively correlated.
• C) negatively correlated.
• D) not correlated.

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Definitions:

Technology Used

Refers to the tools, machines, and techniques utilized to solve problems or improve conditions in various fields.

Equilibrium Price

Equilibrium price is the price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in a balanced market.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where demand equals supply.

Decrease in Price

A reduction in the cost at which goods or services are sold, often leading to increased demand.