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1. A bubble chart from gapminder with an explanation of the economic quantities on the x- and the y-axis. Describe the observed relationship. (A good opportunity to showcase your mastery of terminology, e.g., increasing/decreasing/convex/concave.)

1. A bubble chart from gapminder with an explanation of the economic quantities on the x- and the y-axis. Describe the observed relationship. (A good opportunity to showcase your mastery of terminology, e.g., increasing/decreasing/convex/concave.)

Trigonometry (MindTap Course List)
Trigonometry (MindTap Course List)
8th Edition
ISBN:9781305652224
Author:Charles P. McKeague, Mark D. Turner
Publisher:Charles P. McKeague, Mark D. Turner
Chapter4: Graphing And Inverse Functions
Section: Chapter Questions
Problem 4GP: Use your model to predict the sunspot number for 2001. How does your prediction compare with the...
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Pls help with the bubble chart provided to answer Part A Questions!!!
Life expectancy, at birth @ 90 80 70 60 50 40 30 20 2022 500 Income 2000 8000 32k Size: Population, Coldr: World Regions 128k
Transcribed Image Text:Life expectancy, at birth @ 90 80 70 60 50 40 30 20 2022 500 Income 2000 8000 32k Size: Population, Coldr: World Regions 128k
Part A. 1. A bubble chart from gapminder with an explanation of the economic quantities on the x- and the y-axis. Describe the observed relationship. (A good opportunity to showcase your mastery of terminology, e.g., increasing/decreasing/convex/concave.) 2. An empirical estimate of the rate of change of the observed relationship. To do that create a table that shows the x- and y-value for different points. Empirically find the rise over run. Note: moving your mouse along the graphs and data points on gapminder shows you precise values on the x and y axis. 3. A function (linear, quadratic, logarithmic, exponential, square root, polynomial) that approximately looks like the graph shown in part A.(1), as well as a explanation on why this function captures the observed relationship. Make sure your function aligns with the functional values found in A.2. Note: If the relationship is between log quantities, the function must also depend on the log quantities. Note: The function should have the same name as the economic quantity on the y-axis. The independent variable should have the same name as the economic quantity on the x-axis. For example, if you have pollution on the y-axis and income on the x-axis, your function would be P = P(I). 4. The derivative of the formal function you wrote down in A.3. In the example from A.3, you would find the derivative of P with regard to I. 5. The evaluation of the derivative you found in A.4 at the various points corresponding to entries in your table in A.2. 6. A discussion of whether the formal derivative resembles or is similar to the empirical one. Note: Such a discussion should include aspects that are similar (and why and in what way), as well as aspects that are different (and why and in what way.)
Transcribed Image Text:Part A. 1. A bubble chart from gapminder with an explanation of the economic quantities on the x- and the y-axis. Describe the observed relationship. (A good opportunity to showcase your mastery of terminology, e.g., increasing/decreasing/convex/concave.) 2. An empirical estimate of the rate of change of the observed relationship. To do that create a table that shows the x- and y-value for different points. Empirically find the rise over run. Note: moving your mouse along the graphs and data points on gapminder shows you precise values on the x and y axis. 3. A function (linear, quadratic, logarithmic, exponential, square root, polynomial) that approximately looks like the graph shown in part A.(1), as well as a explanation on why this function captures the observed relationship. Make sure your function aligns with the functional values found in A.2. Note: If the relationship is between log quantities, the function must also depend on the log quantities. Note: The function should have the same name as the economic quantity on the y-axis. The independent variable should have the same name as the economic quantity on the x-axis. For example, if you have pollution on the y-axis and income on the x-axis, your function would be P = P(I). 4. The derivative of the formal function you wrote down in A.3. In the example from A.3, you would find the derivative of P with regard to I. 5. The evaluation of the derivative you found in A.4 at the various points corresponding to entries in your table in A.2. 6. A discussion of whether the formal derivative resembles or is similar to the empirical one. Note: Such a discussion should include aspects that are similar (and why and in what way), as well as aspects that are different (and why and in what way.)
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