Question: The following table contains data on the relationship between saving and income. Rearrange these data into a meaningful order and graph them on the accompanying

The following table contains data on the relationship between saving and income. Rearrange these data into a meaningful order and graph them on the accompanying grid. What is the slope of the line? The vertical intercept? Interpret the meaning of both the slope and the intercept. Write the equation that represents this line. What would you predict saving to be at the $12,500 level of income?

Income per Year               Saving per Year

$15,000 ……………………. $1,000

 0 …………………….  −500

 10,000 …………………….   500

 5,000 …………………….   0

 20,000 …………………….   1,500

The following table contains data on the relationship between sa

$1500 1000 500 2 $5 10 15 20 Income (thousands) -500

Step by Step Solution

3.41 Rating (176 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Income column 0 5000 10000 15000 20000 Saving column 500 0 500 1000 1500 Slope 0... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

252-B-E-M-E (1705).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!