Economics 1014 - Lab 1.1

Economics 1014 Lab 1.1 PROBLEM ONE: UNDERLINE THE DEPENDENT VARIABLE IN EACH OF THE FOLLOWING PAIRS. PROVIDE A BRIEF STORY TO SUPPORT YOUR CHOICE. 1. Amount of water you drink and the temperature outside If it is really hot outside, you are more likely to drink more water. And if it is cold outside, you are less likely to drink water than if it was hotter. So the amount of water you drink depends on the how hot or cold it is outside. 2. Your income value level and how much you use the Columbia Public Transportation System If your income value level is high, you would most likely own a car or have some other way of transportation. Therefore, those with high income value levels probably use the Columbia Public Transportation System a little, if at all. Whereas, a person with a much lower income value level cannot afford his or her own source of transportation. Therefore, he or she would be more likely to use the Columbia Public Transportation System. In conclusion, the higher your income value level, the less likely you would use the Columbia Public Transportation System, and vice versa. Your usage of the system depends on your income value level. 3. Peter’s salary and his education level. With a higher education, Peter’s salary could possible go up. Most likely, the higher the education, the higher the salary. So his salary depends on his education level. 4. The number of policemen in the streets of Bronx, NY, and the crime rate in the state of NY. With many violent acts committed everyday, police are present especially in the Bronx. The more crime there is, the more protection is needed. Therefore, the amount of policemen in the streets of Bronx depends on how much violence there is. 5. Your score on the ACT and the salary of your high school teachers. If the students in a class have a very high ACT average, than the school administration would acknowledge how skilled the teacher must have been, so their salary would go up. If the class collectively scored lower, the teacher’s pay would go down. Therefore, the salary of high school teachers depends on the class’s ACT score. 6. The price of Coca-Cola and how much Pepsi you drink in a given period

of time. If the price of Coca-Cola goes up, than people are willing to buy Pepsi because it will be cheaper. They would be saving money by drinking Pepsi rather than Coke. Therefore, how much Pepsi you drink depends on the price of Coca-Cola. 7. The price of “left shoes” and how many “right shoes” you buy. 8. Your families income and how generous you financial aid is. If your family has a low income, your financial aid will be much more generous. If your family has a high income, then you will not receive as much financial aid. Your financial aid depends on how high, or low, your family’s income is. 9. Your expected grade in Economics 1014 and how much you party this semester. If you party every day this semester, you will never have enough time to study economics. Therefore your grade would go down. If you party occasionally, only after all your Economics homework is completed, you are more likely to receive a higher grade. Your grade could depend on how often you party!