State the Type of Correlation Between the Following Sets of Variables

question 84

Essay

State the type of correlation between the following sets of variables.
a)Consumption and income
b)Education and unemployment
c)Availability of health care and death rate
d)Pollution control measures adopted in Canada and the number of cases of respiratory diseases in Australia

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Definitions:

First-In First-Out (FIFO)

First-In, First-Out (FIFO) is an inventory management and valuation method where goods produced or acquired first are sold, used, or disposed of first.

Ending Inventory

The total value of all the goods a company has in stock at the end of a financial period, which have not yet been sold or used in production.

Recent Cost

The latest cost incurred for goods or services, reflecting the most up-to-date pricing information.

Inventory

The total amount of goods and materials held by a company with the intent of resale or as part of the production process.