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FIGURE 4-4
-Refer to Figure 4-4. Starting with initial curves D₀ and S₀, which movement is consistent with a decrease in both demand and supply?
Regression Equation
A mathematical formula used to predict a dependent variable based on one or more independent variables.
Outliers
Data points that significantly differ from the majority of a dataset, often indicating a deviation from the norm.
Residuals
The differences between observed and predicted values in a regression analysis, representing the error not explained by the model.
Heteroscedasticity
A situation in regression analysis where the variance of the error terms varies across different levels of an independent variable.
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