Suppose You Correlate Reading Levels with the Ages of 30

question 51

Multiple Choice

Suppose you correlate reading levels with the ages of 30 elementary school children.You compute and find it to be 0.72,which is a significant correlation coefficient.Which of the following is the most appropriate conclusion?

• A)Increases in age cause increases in reading level.
• B)There is a proven relationship between age and reading level.
• C)There is a negative relationship between age and reading level that exceeds chance expectations.
• D)There is a positive relationship between age and reading level that exceeds chance expectations.

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Definitions:

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Equilibrium Price

The cost at which the amount of products available for sale matches the amount of products consumers want to buy.

Firms Operating

Businesses engaged in any activity that seeks profits by providing goods or services to customers.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good supplied by producers, under the assumption of ceteris paribus (all other factors being equal).