Use the Following Information to Answer the Question

question 6

Essay

Use the following information to answer the question. Below is the scatterplot showing the association between the number of workers on an assembly team (x), and the number of parts assembled in an 8- hour shift (y). The residual plot of the data is also shown along with a QQ plot of the residuals.

-Use the plot(s)above to explain whether the condition for linearity is satisfied.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers at those prices.

Net Capital Outflow

Refers to the difference between the purchase of foreign assets by domestic residents and the purchase of domestic assets by foreigners. A positive net capital outflow means a country is investing more abroad than others are investing in it.

Open-Economy Macroeconomic Model

A framework for analyzing economies that engage in international trade, highlighting how these economies interact with the rest of the world economically.

Import Quotas

Restrictions set by a government on the quantity or value of certain goods that can be imported into a country, often to protect domestic industries.