Question 1

Explain the purpose of each of the following types of graphs:
(A)Time-series graph
(B)Scatter plot
(C)Pie chart

Accepted Answer

The answer of Explain the purpose of each of the...

Question 2

Exhibit 2A-8 
-The slope of the relationship between X and Y is positive in Exhibit 2A-8.

Accepted Answer

The scatterplot in Exhibit 2A-8 shows a upward trend, indicating a positive relationship between X and Y.

Question 3

Refer to the table below, which shows data for the United States.  (A)Construct a time-series plot of the unemployment rate.
(B)Construct a time-series plot of the inflation rate.
(C)Construct a scatter plot of the data. Is there any apparent correlation between the inflation rate and the unemployment rate in these data?

Accepted Answer

The answer of Refer to the table below, which shows...

Question 4

Refer to the table below. Analyze the data on the number of meals served at small and large restaurants. The number of meals served will vary with the number of cooks employed at the restaurant.   (A)Show the relationship between cooks and meals served by graphing two curves with cooks on the horizontal axis and the number of meals on the vertical axis. How do the slopes of the curves change as more cooks are employed?
(B)Is the change in the number of cooks a shift in the curve or a movement along the curve?
(C)Is the change in the size of the restaurant a shift in the curve or a movement along the curve?

Accepted Answer

The answer of Refer to the table below. Analyze the...

Question 5

Exhibit 2A-8 
-There is a linear relationship between X and Y in Exhibit 2A-8.

Accepted Answer

The answer of Exhibit 2A-8 
-There is a linear relationship...

Question 6

The table below shows the inflation rate for the period 2005 through 2010. Suppose you wanted to show that there was not much variation in the inflation rate over this period. How would you represent this table in a graph? Suppose you wanted to show that there was a large amount of variation during this period. How would you represent this table in a graph?

Accepted Answer

The answer of The table below shows the inflation rate...

Question 7

Exhibit 2A-7 
-Exhibit 2A-7 shows the relationship between X and Y. The slope of the relationship is
A) positive, and the slope increases with Y.
B) positive, and the slope decreases with Y.
C) equal to -1.
D) negative, and the slope increases with Y.
E) negative, and the slope decreases with Y.

Accepted Answer

As Y increases, the slope of the curve decreases. This is evidenced by the curve becoming flatter as it moves from the left side of the graph to the right side. Therefore, the best choice is B: positive slope that decreases with Y.

Question 8

A two-dimensional graph cannot be used to show what will happen to the relationship between X and Y if any of the ceteris paribus assumptions change.

Accepted Answer

A two-dimensional graph can show the effect of changes in ceteris paribus assumptions by shifting the curve(s) representing the relationship between X and Y, thus illustrating how the relationship changes under different conditions.

Question 9

Consider a ratio for the total number of miles traveled by car divided by the total number of drivers.
(A)If both the total number of miles traveled by car and the total number of drivers increase over time, what must be true for the ratio to rise over time?
(B)If both the total number of miles traveled by car and the total number of drivers fall over time, what must be true for the ratio to rise over time?
(C)If the ratio is not changing over time, what must be true about the total number of miles traveled by car and the total number of drivers over time, and relative to each other?

Accepted Answer

The answer of Consider a ratio for the total number...

Question 10

Graph the relationship between X and Y such that the relationship between X and Y is linear and positive.
(A)On this graph, show what happens to Y if X increases.
(B)Suppose there is a third variable, Z, that causes Y to decrease (for any given value of X) whenever Z increases. Show what happens to the relationship between X and Y.

Accepted Answer

The answer of Graph the relationship between X and Y...

Question 11

Suppose the value of one variable rises while the value of another variable falls; then the slope of the relationship between the two variables is between 0 and 1.

Accepted Answer

The slope of the relationship between two variables depends on the magnitude of the change in both variables, not just one. It is possible for the value of one variable to rise while the value of another variable falls and still have a slope greater than 1 or less than 0.

Question 12

Consider a straight line with a slope of +1 that intersects the origin. It dissects the positive X-Y quadrant. Select any point on the line. What must be true about the distance between the origin and the X coordinate and between the origin and the Y coordinate?

Accepted Answer

The answer of Consider a straight line with a slope...

Question 13

A positive relationship represents a situation where an increase in one variable is associated with an increase in the other variable. Draw three graphs that represent a positive relationship.

Accepted Answer

The answer of A positive relationship represents a situation where...

Question 14

Exhibit 2A-5 
-Refer to Exhibit 2A-5. Which of the following would best explain the shift from line 1 to line 2?
A) An increase in X
B) A decline in Y
C) A decrease in X
D) A change in a third variable, Z, which affects the relationship between Y and X
E) An increase in the slope

Accepted Answer

The shift from line 1 to line 2 in a graph typically indicates a change in the relationship between the two variables being plotted. This change is often due to a third variable (Z) affecting the relationship between the original variables (X and Y), rather than a simple increase or decrease in X or Y themselves or a change in the slope of the relationship.

Question 15

Exhibit 2A-6 
-Exhibit 2A-6 shows the relationship between the price of sodas and the quantities that two families are willing to buy. Suppose that both families are willing to buy more sodas while the soda price remain constant. Which of the following is correct?
A) A shift of both curves to the right
B) A shift of both curves to the left
C) A shift of the curve for Family A to the right and a shift of the curve for Family B to the left
D) A shift of the curve for Family B to the right and a shift of the curve for Family A to the left
E) A movement along each of the two curves

Accepted Answer

If both families are willing to buy more sodas while the soda price remains constant, then this indicates an increase in demand. A shift of both curves to the right would represent this increase in demand, where at each price level, more sodas are being purchased by both families.

Quiz 20: Reading, Understanding, and Creating Graphs

Explain the purpose of each of the following types of graphs: (A)Time-series graph (B)Scatter plot (C)Pie chart

Exhibit 2A-8 -The slope of the relationship between X and Y is positive in Exhibit 2A-8.

Exhibit 2A-8 -There is a linear relationship between X and Y in Exhibit 2A-8.

Exhibit 2A-7 -Exhibit 2A-7 shows the relationship between X and Y. The slope of the relationship is

A two-dimensional graph cannot be used to show what will happen to the relationship between X and Y if any of the ceteris paribus assumptions change.

Suppose the value of one variable rises while the value of another variable falls; then the slope of the relationship between the two variables is between 0 and 1.

Consider a straight line with a slope of +1 that intersects the origin. It dissects the positive X-Y quadrant. Select any point on the line. What must be true about the distance between the origin and the X coordinate and between the origin and the Y coordinate?

A positive relationship represents a situation where an increase in one variable is associated with an increase in the other variable. Draw three graphs that represent a positive relationship.

Exhibit 2A-5 -Refer to Exhibit 2A-5. Which of the following would best explain the shift from line 1 to line 2?

Exhibit 2A-6 -Exhibit 2A-6 shows the relationship between the price of sodas and the quantities that two families are willing to buy. Suppose that both families are willing to buy more sodas while the soda price remain constant. Which of the following is correct?