Fiting a straight ine to a set of data yields the following predicion line. Complete (a) through (e) belowa. Interpret the meaning of the Yintercept, Choose the correct anower belowO A. The Yintercept, be =4, imples that the average value of Yis 4.OB. The Yintercept, b7, implies that when the value of Xs0, the mean value of Yis 7OC. The Yantercept, by4, implies that tor each increase of 1 unt in X, the value ofYa expected to increase by 4 unts•D. The Yintercept, 4, implies that when the value of Xis 0, the mean value of Y is 4b. Interpret the meaning of the slope, b Choose the comect answer belowOA The slope, by4, implies that for each increase of 1 unit in X, the value of Yis expected to increase by 4 unitsOB. The slope, by =7, implies that the average value of Y is 7.O C. The slope, b,=7, imples that for each increase of 1 unit in X, the value of Y is expected to increase by 7 units%3DOD. The slope, b,7, implies that for each increase of 1 unit in X, the value of Yis expected to decrease by 7 units Fiting a staight ine to a set of data yelds the following prediction ine. Complete (a) through (C) belowOA The Yintercept, b4, mplies that the verage value of Yin4OB The Yintercept, bo7, mples that when the value of Xis0 the mean value o Yis7OC. The Yentercept, bo4, imples that for each increase of 1 unit in X. he value of Yis expected o increase by 4 untsOD. The Vintercept, by4 implies that when the value of X 0, the mean value of Yi4b. interpret the meaning of the slope, by Choose the comect anwer belowOA The slope, b, 4, mples that for each increase of 1 unt in X, the value of Yis expected o increase by 4 untsOB. The slope, b, 7, implies that the average value of Y is 7.OC The slope, b7, implies that for each incease of 1 unit in X, the value of Y is expected to increase by 7unitsOD. The slope b, 7, imples that tor each increase of 1 unit in X the value of Yis expected to decrease by 7 unitsC. Predict the mean value of Y for X=5Y= (Simplity your answer)

Given Predicted line Yi⏞=4+7Xi⏞ .........(1)

Fiting a straght ne to a set of data yields he following prediction ine. Complete (a through () below OA The Yatercept, 4 mplies that he aveage value of Yi4 OR The Yanercept, h7, mples that when the value of X0 the mean value ot Y7 OC The Yeercept, 4mples that for each increase of 1 unit in X te value of Yis expected to increase by 4unts D. The Yaercept, 4ples that when the value of X0, the mean value of Y4 b. iterpret the meaning of the slope. b Choose the comect anwer below OA The slope, b, 4 mptes that tor each inease of 1 untin X he value of Yepected to increase by 4 unts OB The slope, b7, implies that the average value of Yis 7. OC The slope, b,7, mples that tor each incease of 1 unt in X he value of Ys expected toincrease by 7 units OD. The slope. b,7, implies that for each increase of 1 unit in X the value of Ys expected to decrease by 7 unts C. Predict the mean value of Y tor X=5 e (Simpity your answer)

Fiting a straght ne to a set of data yields he following prediction ine. Complete (a through () below OA The Yatercept, 4 mplies that he aveage value of Yi4 OR The Yanercept, h7, mples that when the value of X0 the mean value ot Y7 OC The Yeercept, 4mples that for each increase of 1 unit in X te value of Yis expected to increase by 4unts D. The Yaercept, 4ples that when the value of X0, the mean value of Y4 b. iterpret the meaning of the slope. b Choose the comect anwer below OA The slope, b, 4 mptes that tor each inease of 1 untin X he value of Yepected to increase by 4 unts OB The slope, b7, implies that the average value of Yis 7. OC The slope, b,7, mples that tor each incease of 1 unt in X he value of Ys expected toincrease by 7 units OD. The slope. b,7, implies that for each increase of 1 unit in X the value of Ys expected to decrease by 7 unts C. Predict the mean value of Y tor X=5 e (Simpity your answer)

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.16P

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