The Following Sets of Data Are Scores on a Mathematics

question 38

Essay

The following sets of data are scores on a mathematics ability test and grade level achievement in math for fifth graders. Plot the scores on the scattergram.

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Definitions:

Consumer Surplus

The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, evidencing economic benefit.

Costume Jewelry

Jewelry made from inexpensive materials and imitation gems, designed to provide an attractive appearance at a lower cost than jewelry made from precious metals and stones.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay.