a) Correlation matrix is a table that showing the correlation coefficient between sets of variables.
R - R-squared is used to statistically measure how close the data are fitted to the regression
line. You can calculate R^2 by divid
1. Using the scatter diagram model the slope is curving upward and number of books sold
is slowing down to 300 books sold. We can predict that there will be about 300 or more
books sold if the shelf space is 8.23.
From [regress bsold shelfs
Market supply is the sum of single firm supplies.
Chan es in uantit su lied
1) caused by a change in price;
ii) represented by a movement along the supply curve.
increase in quantity supplied decrease in quantity supplied
Intermediate Microeconomics (323)
Lecture Notes of Dr. Guoqiang Tian
I. Math Review and Economics Review
1.1 Equation for straight line y a ax + b
where a a slope
1.2 Solve two equations with two unknowns.
b = intercept of 3'
Relative Price and Absolute Price
Absolute price or nominal price is the price without considering the
changing value of money.
Relative price or real price is the price with considering the
changing value of money. E9. The price of the first class tick
Heteroskedasticity is a systematic pattern in the error where the variance of the errors is not
constant. It occurs when the variance of the error terms is different across observations and it happens
most often with cross secti