Examlex
The aggregate supply curve is the relationship between the price level and the quantity of real GDP purchased.
Correlation Coefficient
A numerical value indicating how much two or more variables change in relation to each other.
Linear Association
A type of relationship between two variables where the graph of their relationship is a straight line, indicating a proportional increase or decrease.
Least Squares Regression
A method to determine the line of best fit by minimizing the sum of squares of the differences between observed and predicted values.
Predicted Value
The value forecasted using a statistical model or algorithm based on current or past data.
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