Question

Statistical technique used for investigating and modelling the relationship between two or more variables is:

Answer 1

Answer:

The statistical technique used for investigating and modeling the "relationship between two or more variables" is Regression.

Answer 2

Answer:

To such pairs of statistical variables that show cause and effect relationship with each other are:

Price of a commodity and

quantity supplied: price of a

commodity and quantity

supplied are positively related

to each other. That is, when

the the price of commodity

increases, more unit of

commodity as supplied by

producers in market and vice

versa.

Price of a commodity and

quantity demanded: price of a

commodity and the quantity

demanded are negatively

related to each other. That is,

whenn price of commodity

increases, less unit of

commodity are demanded by

consumers and vice versa.

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