An example of analysis that involves variables and how they affect one another would include the relationship of the price of smart phones to the quantity of smart phones purchased.

Question

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This is an example of how two variables are related to each other. The price of smart phones is a variable that can affect the quantity of smart phones purchased. As the price increases, the quantity demanded typically decreases. This is a basic principle in economics known as the law of demand. Therefore, analyzing the relationship between these two variables can help determine how changes in price will affect sales of the product.

An Example of Analysis That Involves Variables and How They