Concept explainers
For Exercises 63–68, find the slopes of the lines
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- Q. Table provided gives data on gross domestic product (GDP) for the United States for the years 1959–2005. a. Plot the GDP data in current and constant (i.e., 2000) dollars against time. b. Letting Y denote GDP and X time (measured chronologically starting with 1 for 1959, 2 for 1960, through 47 for 2005), see if the following model fits the GDP data: Yt = β1 + β2 Xt + ut Estimate this model for both current and constant-dollar GDP. c. How would you interpret β2? d. If there is a difference between β2 estimated for current-dollar GDP and that estimated for constant-dollar GDP, what explains the difference? e. From your results what can you say about the nature of inflation in the United States over the sample period?arrow_forwardGraph a line that passes through (0,0) and (2.3).arrow_forwardA transportation engineer observed that in five zones of the city, the number of gas stations (Y) in relation to the population (X) in 1000's was: (as shown in the table). Determine the model representing the change of each variable and explain the relationship if it is linear X 1 5 3 2 4 Y 2 7 3 5 8arrow_forward
- Write a LINEAR FUNCTION for the line that passes through (0,4) and (2,5) in the form X+arrow_forwardWhich set of ordered pairs (�,�)(x,y) could represent a linear function? A= {(−6,0), (−3,3), (0,6), (3,9)}{(−6,0),(−3,3),(0,6),(3,9)} B= {(−6,5), (−3,2), (0,−2), (3,−5)}{(−6,5),(−3,2),(0,−2),(3,−5)} C= {(2,8), (4,4), (5,0), (7,−8)}{(2,8),(4,4),(5,0),(7,−8)} D= {(−4,5), (−1,4), (2,3), (6,2)}{(−4,5),(−1,4),(2,3),(6,2)}arrow_forward:)arrow_forward
- The points (0, 2.6) and (2.9, 7.53) satisfy a linear relationship between two variables, z and y. a. What is the value of y when x = 20?arrow_forwardFind the x-intercept and the y-intercept of the line b 14 3. 2. -6-5 - 43456 in.arrow_forwardConsider that the relation between the cost of production, the lot of size production and the number of labours if for a particular point the slop is change to another point where Xp=26 for X1, Xp=22 for X2, find the linear model for this relation and write it.arrow_forward
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