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Related to the Economics in Practice on p. 51: The Amazon Kindle and the electronic textbooks available for the Kindle are complementary goods. Electronic textbooks and traditional, hard-copy textbooks are substitute products. If the price of electronic textbooks for the Kindle increases
Dependent Variable
In statistical modeling, this is the variable being tested and measured to see if it is affected by changes in the independent variables.
Cook's D
A statistic used in regression analysis to identify influential data points that can disproportionately affect the results of the regression.
Leverage
A measure of how far the values of the independent variables are from their mean values.
Regression Results
The outcomes of regression analysis, including the estimated relationships between variables and measures of these relationships' strength and significance.
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Q78: Refer to Scenario 3.1. In response to
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Q157: Refer to Figure 4.6. Producer surplus changes
Q218: Payment in the land market is called