Six students were asked to rate how much they like 90s grunge music on a scale of 1 (it’s the worst music ever) to 6 (best music hands down).  Then students were then asked to rate how much they enjoyed the movie, Cabin the Woods.  Fill in the information below(no spaces, round to 2 decimal places if need be).   Mx = 3.83        My = 3.83        SSx = 14.83     SSy = 10.83     SSxy = 5.83      r = 0.46       r2 = 0.21   Calculate the slope: Calculate the y-intercept: Complete the regression line: y = x + Predict the Cabin in the Woods rating for a person who gave grunge music a rating of 5.

From the regression equation Ŷ = –2X + 6, what can be determined about the correlation between X and Y?

In which situation would consumers bear the highest incidence of a tax?

If the cross elasticity of demand between fly rods and reels is –0.8, a decrease in the price of rods would _____ sales of reels because the two goods are _____.

In the town of Skateville, average income falls by 20% due to a recession. As a result, sales of skateboards fall by 15%. The income elasticity of demand is _____, and skateboards are a(n) _____ good.

A negative cross elasticity of demand means that two goods are _____, while a negative income elasticity of demand means that a good is a(n) _____ good.

Using the midpoint method, the price elasticity of demand between points a and b on the graph is

Which factor would increase elasticity of demand the MOST?

The day after Halloween, grocery stores discount the price of candy from $4 per bag to $2 per bag. The percentage change in price using the base method is _____ and using the midpoint method is _____.

Due to a drought in Georgia, the market price for peanuts rises by 20% nationwide. If the price elasticity of demand for peanuts is 0.8, what would happen to total revenue for peanut farmers who were not affected by the drought?