Now that you have had a chance to review the content covered so far, take a...

Now that you have had a chance to review the content covered so far, take a moment to reflect upon what you have learned and post in this discussion board below. Consider one or two of the following statements in your post: Provide a real life situation that pertains to the information in Chapter 4 and 5. Why would knowing whether a linear relation exists be important? Where would this apply? Provide an example. Would it be important to know if it was positive or negative? Why is probability important? Where could it be used? Where have you seen it used? Be ready to comment on your classmates' posts!

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Expert Solution

Existence of linear relationship is important to us in many ways .

We can prediction the chances of occurrence of a particular event and that too very close if the relationship is linear. A linear relationship can be both positive and negative depending on the situation whether the commodities are complementing each other or they are alternate to one other.

Complementing commodities are positively linearly related and alternating commodities are negatively linearly related.

Some more examples in the below figure about complementary and alternate commodities.

orchestra answered 1 year ago

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