Table 16-6

question 154

Multiple Choice

Table 16-6.The table below applies to an economy with only two goods - hamburgers and hot dogs.The fixed basket consists of 4 hamburgers and 8 hot dogs.

-Refer to Table 16-6.Between 2009 and 2011,the cost of living increased by

• A) 6 percent.
• B) 19 percent.
• C) 14 percent.
• D) 17 percent.

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Definitions:

Variables

Elements, characteristics, or factors that can change and affect the outcome of a study or experiment, often measured, manipulated, or controlled.

Independent Variable

An independent variable is a variable that is manipulated or categorically separated in an experiment to observe its effect on a dependent variable.

Regression Line

A line of best fit through a scatter plot of data points that shows the relationship between independent and dependent variables in regression analysis.

Sum of Squares

A statistical technique used to describe the total variation in a dataset.