In the Regression Equation, Y = a $\beta$ X, a Is the Symbol for the ____

question 19

Multiple Choice

In the regression equation, Y = a + $\beta$ X, a is the symbol for the ____.

• A) slope of the regression line
• B) y-intercept of the regression line
• C) dependent variable
• D) independent variable

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Definitions:

Deadweight Loss

A reduction in economic effectiveness that happens when a product or service does not reach, or cannot reach, its equilibrium state.

Average Cost

The total cost of production divided by the number of units produced, indicating the cost per unit.

Consumer Surplus

The bifurcation between what a consumer wishes to pay for a service or good, and what ends up being spent.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual market price of the good.