Write the Word or Phrase That Best Completes Each Statement

question 171

Short Answer

Write the word or phrase that best completes each statement or answers the question.
Construct a scatter diagram for the data.
-A manager wishes to determine the relationship between the number of miles (in hundreds of miles) the manager's sales representatives travel per month and the amount of sales (in thousands of dollars) per month.
$\begin{array}{l|c|c|c|c|c|c|c|c|c|}\text { Miles traveled, } \mathrm{x} & 2 & 3 & 10 & 7 & 8 & 15 & 3 & 1 & 11 \\\hline \text { Sales, y } & 31 & 33 & 78 & 62 & 65 & 61 & 48 & 55 & 120\end{array}$

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Definitions:

Inflationary Gap

A situation where the total demand in an economy exceeds the total supply, leading to an increase in the general price level or inflation.

Depression

A prolonged period of significant economic downturn characterized by a substantial decline in output and employment, usually more severe than a recession.

Federal Budget

An annual statement of the United States government's expenditures and revenues, detailing the allocation of resources among various federal agencies and programs.

Aggregate Demand

The sum of desires for goods and services in an economy, assessed at an established overall price level and during a distinct period.