Question

B. Use the following model to answer the later questions GDP = 10,000,000 + 0.2 Number...

B. Use the following model to answer the later questions

GDP = 10,000,000 + 0.2 Number of higher education graduates per year

Which variable is dependent and which is independent

What the value of the intercept means?

What the slope means?

How much will be the GDP per year is number of higher education graduates per year is 20 million graduates?

Please explain if you can also. Thanks!!!

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Answer #1

Which variable is dependent and which is independent

`GD is dependent Variable and Independent Variable is Number of Higher education graduates per year.

What the value of the intercept means?

10,000,000 is intercept value here. It is value which does not change even when independent variable is zero.

What the slope means?

Slope is coefficient value and it shows the fractional relationship between independent variable and dependent variable.

How much will be the GDP per year is number of higher education graduates per year is 20 million graduates

GDP = 10,000,000 + 0.2 Number of higher education graduates per year

GDP = 10,000,000 + 0.2 (20,000,000)

= 10,000,000 + 40,000, 00

= 14,000,000

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