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Describe What Explanatory and Response Variables Are and Why These

question 3

Essay

Describe what explanatory and response variables are and why these terms are superior to the more traditional terms independent and dependent.


Definitions:

Spreadsheets

Digital tools or applications used to organize, analyze, and store data in tables, often utilized for accounting, planning, and data analysis.

Household Budget

An estimate of an individual's or family's income and expenses over a specified period, used for managing personal finances.

Economic Theory

A set of principles and concepts used to explain how economies operate and to make predictions about economic behaviors and outcomes.

China

A country in East Asia, known as the world's most populous nation with a continuous culture stretching back nearly 4,000 years.

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