According to the data offered by the local Walmart, the manage noticed that when summer comes, the amount of ice cream sold is usually higher than the one during the winter time. There is a hypothesis from the manager that there is a relationship between the the amount of ice cream consumption and temperature. If you were the manager, (1) what relationship you would expect between the two variables? (2) which one will be the independent variable and which one is the dependent variable? (3) will the slope be positive or negative if the graph constructed? (4) if you think these two variables are independent of one another, briefly explain your reason.
  • 1. The relationship would be a direct relationship. This is because a hypothetical hypothesis would be as the temperature increases during the summer so do the number of sales and consumptions in icecream. Both variables are changing in the same way.2. Independent: The temperatureDependant: Ice cream consumption3. The slope will be positive because both of the variables will be increasing and decreasing at the same time.4. I don't believe the variables are independent because there is a correlation between the two.
  • I recently have been wanting to work out more. The method of exercise I prefer most is yoga and pilates due to the fact that they don't put too much stress on my joints. For this, I need a yoga mat. I had to weigh the marginal costs and benefits of whether or not I should spend $20 on a yoga mat to be able to perform the exercises comfortably and correctly or to forgo the purchase and use a towel from home. I ended up purchasing the yoga mat because I felt my frequent use of the yoga mat would outweigh the price and marginal cost of not.
  • An inverse relationship is when two variables in a relationship change in different ways. For example, one variable increase and the other decreases. This causes a negative slope. A direct relationship is when two variables in a relationship have a positive slope because they both change in the same way. This can be seen in a relationship between money and spending the money on goods and services. For example, the more money someone has, the more money they are able to spend on going on weekend trips.
  • The free product is not free due to the fact that someone else is taking on the cost of the free product for you. The product still costs money to manufacture and someone else, whoever that might be, is still bearing the marginal costs and benefits for you to obtain this "free to you" product.
What's an inverse relationship? And what's a direct relationship? Offer two variables that might have direct relationship.
  • An inverse relationship is when two variables in a relationship change in different ways. For example, one variable increase and the other decreases. This causes a negative slope. A direct relationship is when two variables in a relationship have a positive slope because they both change in the same way. This can be seen in a relationship between money and spending the money on goods and services. For example, the more money someone has, the more money they are able to spend on going on weekend trips.
  • I recently have been wanting to work out more. The method of exercise I prefer most is yoga and pilates due to the fact that they don't put too much stress on my joints. For this, I need a yoga mat. I had to weigh the marginal costs and benefits of whether or not I should spend $20 on a yoga mat to be able to perform the exercises comfortably and correctly or to forgo the purchase and use a towel from home. I ended up purchasing the yoga mat because I felt my frequent use of the yoga mat would outweigh the price and marginal cost of not.
  • The free product is not free due to the fact that someone else is taking on the cost of the free product for you. The product still costs money to manufacture and someone else, whoever that might be, is still bearing the marginal costs and benefits for you to obtain this "free to you" product.
  • 1. The relationship would be a direct relationship. This is because a hypothetical hypothesis would be as the temperature increases during the summer so do the number of sales and consumptions in icecream. Both variables are changing in the same way.2. Independent: The temperatureDependant: Ice cream consumption3. The slope will be positive because both of the variables will be increasing and decreasing at the same time.4. I don't believe the variables are independent because there is a correlation between the two.
Cite one example of recent decision that you made in which you, at least implicitly, weighed marginal cost and marginal benefit.
  • The free product is not free due to the fact that someone else is taking on the cost of the free product for you. The product still costs money to manufacture and someone else, whoever that might be, is still bearing the marginal costs and benefits for you to obtain this "free to you" product.
  • C. just the third hamburger.
  • An inverse relationship is when two variables in a relationship change in different ways. For example, one variable increase and the other decreases. This causes a negative slope. A direct relationship is when two variables in a relationship have a positive slope because they both change in the same way. This can be seen in a relationship between money and spending the money on goods and services. For example, the more money someone has, the more money they are able to spend on going on weekend trips.
  • I recently have been wanting to work out more. The method of exercise I prefer most is yoga and pilates due to the fact that they don't put too much stress on my joints. For this, I need a yoga mat. I had to weigh the marginal costs and benefits of whether or not I should spend $20 on a yoga mat to be able to perform the exercises comfortably and correctly or to forgo the purchase and use a towel from home. I ended up purchasing the yoga mat because I felt my frequent use of the yoga mat would outweigh the price and marginal cost of not.
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