Identify What Is Wrong with Each of the Following Statements $800 \mathrm {~m}$

question 96

Essay

Identify what is wrong with each of the following statements:
a. The correlation between Olympic gold medal times for the $800 \mathrm {~m}$ hurdles and year is $- 0.66$ seconds per year.
b. The correlation between Olympic gold medal times for the $100 \mathrm {~m}$ dash and year is $- 1.37$ . c. Since the correlation between Olympic gold medal times for the $800 \mathrm {~m}$ hurdles and $100 \mathrm {~m}$ dash is $- 0.41$ , the correlation between times for the $100 \mathrm {~m}$ dash and the $800 \mathrm {~m}$ hurdles is $+ 0.41$ .
d. If we were to measure Olympic gold medal times for the $800 \mathrm {~m}$ hurdles in minutes instead of seconds, the correlation would be $- 0.66 / 60 = - 0.011$ .

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Definitions:

Market Equilibrium

A condition in a market where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable price.

Producer Surplus

The difference between the amount a producer is paid for a good and the minimum amount they would be willing to accept.

Consumer Surplus

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

Cost to Sellers

The expenses incurred by sellers in providing a good or service, including production costs, labor, materials, and overhead.