For the Following Data (A) Draw a Scatter Plot $$\begin{array} { c | c c c c c c c } x & 4 & 1 & 3 & 2 & 5 & 7 & 6 \\\hline y & 14 & 6 & 9 & 9 & 17 & 20 & 16\end{array}$$

question 95

Essay

For the following data (a) Draw a scatter plot. (b) Find the value for r. (c) Test the significance of r at the 5% level and at the 1% level. (d) If r is significant, find the regression line and draw the line on the scatter plot. (e) Describe the nature of the relationship if one exists. (f) Predict y when x = 20. $$\begin{array} { c | c c c c c c c } x & 4 & 1 & 3 & 2 & 5 & 7 & 6 \\\hline y & 14 & 6 & 9 & 9 & 17 & 20 & 16\end{array}$$

Discuss the geopolitical and economic factors influencing international trade dynamics.

Understand the basic principles of international trade and comparative advantage.

Identify and explain the effects of tariffs, quotas, and other trade barriers on international trade.

Recognize the significance of opportunity cost in trade decisions.

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Definitions:

OPEC Countries

Nations that are members of the Organization of the Petroleum Exporting Countries, known for their significant role in global oil production and prices.

Technological Advance

The progress in scientific research and development leading to new inventions or improvements in technology that can increase productivity and economic growth.

Demand

The willingness and ability of consumers to purchase goods and services at various prices during a certain period.

Ice Cream Cones

A sweet, frozen dessert typically made with dairy products and served in a cone, popular in many cultures around the world.