If the Points on a Scatter Diagram Are Clustered in a Pattern

question 48

Multiple Choice

If the points on a scatter diagram are clustered in a pattern that extends from upper left to the lower right,this would suggest that the two variables depicted are

• A) normally distributed.
• B) not correlated.
• C) negatively correlated.
• D) positively correlated.

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Definitions:

Equilibrium Quantity

The volume of goods or services that are both provided and required at the market equilibrium price.

Market For Candy

The market for candy refers to the economic environment where candy products are bought and sold, involving consumers, manufacturers, and retailers, influenced by trends, tastes, and economic factors.

Surplus

The amount of an asset or resource that exceeds the portion that is actively utilized.

Competitive Market

A market structure where many firms offer products or services that are similar, encouraging competition and efficiency.