This topic contains a solution. Click here to go to the answer

Author Question: What is the meaning of the statement correlation does not mean causation? What will be an ideal ... (Read 51 times)

pepyto

  • Hero Member
  • *****
  • Posts: 547
What is the meaning of the statement correlation does not mean causation?
 
  What will be an ideal response?

Question 2

The market demand for wheat is Q = 100 - 2p + 1 , where is the price of barley. If the price of wheat is 2, the price elasticity of demand
 
  A) equals (-4/46).
  B) equals (-46).
  C) equals (-1).
  D) cannot be calculated without more information.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jaykayy05

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

Just because two variables are correlated, meaning that they move together, does not mean that one of the variables is the cause of movement in the other. For example, sales of gasoline and incidence of sunburn are strongly correlated in the U.S. However, this does not mean that sunburns cause people to buy more oil or that buying oil causes sunburns. There is another explanatory variable involved, namely the season of the year, since people both drive more and are outside in the sun more during the summer months.

Answer to Question 2

D





 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

For a complete list of videos, visit our video library