The following table shows the relationship between the price of airline tickets from London to New York

Question:

The following table shows the relationship between the price of airline tickets from London to New York and the number of passengers on the flight.

a. Is the relationship between the price of tickets from London to New York and the number of passengers a positive or a negative relationship? Explain.

b. Plot the data from the table on a graph, draw a line through the points, and calculate the slope of the line.

Price per Ticket $ 300 500 800 600 450 Number of Passengers (millions) 120 200 320 240 180 Month June July

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Macroeconomics

ISBN: 9781292303826

13th Global Edition

Authors: Karl E. Case,Ray C. Fair , Sharon E. Oster

See More Books

Question Posted: Dec 11, 2023 12:39 PM

See More Questions

The following table shows the relationship between the price of organic turkeys and the number of turkeys sold by Godfreys Free-Range Gobblers. a. Is the relationship between the price of turkeys and...
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
rn rn Anushka (an Australian Tax resident) works as an employee for a child care centre, Brilliant Kids Pty Ltd, on a permanent part-time basis while she runs her business as a day carer for her own...
A one-dimensional model of an ionic crystal consists of a line of alternating positive and negative ions with distance r0 between each ion. (a) Show that the potential energy of attraction of one ion...
The long-term debt section of Starr Companys balance sheet as of December 31, 2007, included 9% bonds payable of $200,000 less unamortized discount of $16,000.Further examination revealed that these...
Electric eels live in fresh water. The torpedo ray is an electric fish that lives in salt water. The electrocytes in the ray are grouped differently than in the eel; each stack of electrocytes has...
Michael Bush owns a store specializing in travel gear and clothes. Manufacturers have their own coding, but there are many manufacturers. Set up data elements for six different travel hats from three...
discuss the role of life cycle assessment (LCA) methodologies in quantifying the environmental impacts of products and processes, and how this informs sustainability strategies?
Before we attempt to explain the workings of an economy, it is worthwhile to see the impact of the decisions and operations of individual firms. We need to understand why some companies elect to move...
As we indicated in the text, the idea of opportunity cost is one of the fundamental concepts in economics. When we look at the choices people make in the area of employment and education, the role of...
For the following exercises, estimate the functional values and the limits from the graph of the function f provided in Figure 14. -5-4-3-2 6- -5-- 32 y 3- 2- 2- 3- A 5 6+ IT I Figure 14 (f(x) 1 2 3...
A gambler wants to know whether the dice used in a casino are fair. If the dice are fair, the probabilities of seeing 1, 2,. . ., 6 are all 1/6 .. The gambler recorded the outcomes of 600 rolls of...
The president of a local bank suspects that his employees care only about the big customers. He randomly sampled 325 loans made during the last year and asked the borrowers their opinion of the...
Jamie Turner bought shares of stock in three different companies on January 1, 2012. He eventually sold his shares on January 1, 2017. The following table shows his sale and purchase price for the...
To commit fraudulent misrepresentation, one party must intend to mislead another. (True/False)
What is the definition of scienter?
Review the Amazon.com Web site. Develop the requirements definition for the site. Create a list of functional business requirements that the system meets. What different kinds of nonfunctional...
If the joint cost function for two products is C(x, y) = xy2 + 1 dollars (a) Find the marginal cost (function) with respect to x. (b) Find the marginal cost with respect to y.
In a randomized one-year trial of 100 elm trees with Dutch Elm Disease, 50 are slated to receive only a fungicide treatment (we will call this Group A), and the other 50 are slated to receive the...
In 1991, economists Joshua D. Angrist and Alan B. Krueger published a study on the correlation between date of birth and years of schooling. The premise was that the actual amount of time an average...
Suppose that in the year 2015, Oceanaire, Inc. planned to produce 500,000 units of its lightweight scuba tanks. Of the 500,000 it planned to produce, a total of 50,000 units would be added to the...
E(CF1) = 1,000*0.4 2,000*0.5 4,000*0.1= 1,800. E(CF2) = 1,500*0.3 2,000* 0.6 6,000* 0.1 = 2,250. E(CF3) = 3,000* 0.2 3,000 * 0.4 5,000*0.4 = 3,800. E(NPV) = -4,000 1,800/1.1 2,250/1.12 3,800/ 1.13 =...
Pete's General Store is a retail business. The company's year-end gross profit is $84,200, and sales are $803,500. What is its cost of goods sold?
(a) What is the weekly worker's compensation premium for a construction roofer if the base rate is $7.50, and the roofer earns $ 1,350 per week and works in a company whose EMR is 1.0. (b) If the...

The following table shows the relationship between the price of airline tickets from London to New York

Question:

Price per Ticket $ 300 500 800 600 450 Number of Passengers (millions) 120 200 320 240 180 Month June July August September October

Step by Step Answer:

This question has not been answered yet.

Principles Of Macroeconomics

Students also viewed these Business questions