The Following Scatterplot Shows the Percentage of the Vote a Candidate

question 11

Multiple Choice

The following scatterplot shows the percentage of the vote a candidate received in the 2004 senatorial elections according to the voter's income level based on an exit poll of voters conducted by CNN. The income levels 1-8 correspond to the following income classes: 1=Under $15,000; 2=$15-30,000; 3=$30-50,000; 4=$50-75,000; 5=$75-100,000; 6=$100-150,000;
7=$150-200,000; 8=$200,000 or more.
-Use the election scatterplot to the find the value of the rank correlation coefficient $\mathrm { r } _ { \mathrm { s } }$

• A) \(\mathrm { r } _ { \mathrm { S } } = 0.9762\)
• B) \(\mathrm { r } _ { \mathrm { S } } = 1.9762\)
• C) \(\mathrm { r } _ { \mathrm { S } } = - 1\)
• D) \(\mathrm { r } _ { \mathrm { S } } = - 0.9762\)

---

Definitions:

Substitution Effect

The economic understanding that as prices rise or incomes decrease, consumers will replace more expensive items with less costly alternatives.

Income Effect

The Income Effect refers to the change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.

Substitution Effect

the component of the total effect of a price change on consumption that results from the consumer substituting the good that has become relatively cheaper for the good that has become relatively more expensive.

Leisure Time

Leisure time is the period when one is not engaged in work or other obligations, available for relaxation, hobbies, and personal activities.