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IPS6eCh02_1bb_extra

IPS6eCh02_1bb_extra - Chapter2 2.1Scatterplots...

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Chapter 2 – Concerns BIVARIATE relations 2.1 Scatterplots 2.2 Correlation 2.3 Least Squares Regression 2.4 Cautions about Correlation and Regression 2.5 Relations in Categorical Data
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Independent variable = explanatory = exogenous Dependent variable = response = endogenous The way economists think about variables may change in different models. Often we think of price as independent and quantity (demanded or supplied) as dependent
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Recall:
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City and Highway fuel consumption for 2001 model 2-seater cars Each “individual” is a different car. Note the extreme value. This would be an outlier If considering the mean of either of the two variables, BUT if we estimate a line Through the data, the extreme value will be near the line and so NOT an outlier When considering the relationship between the two variables.
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Recall:
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Recall:
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Body mass and metabolic rate – do heavier people burn more energy? For Exercise 2.21 on page 98 (6 th ed.)
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Female Rate 0 200 400 600 800 1000 1200 1400 1600 0 20 40 60 Mass (kg) Metabolic rate (cal) 2.21 (6 th ed. – pg. 98)
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