Describe the equation of a linear relationship
Describe the equation of a linear relationship?
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1. If the vertical intercept and the slope are known, the general form y = a + bx describes the line.
2. y represents the variable on the vertical axis (the dependent variable in standard mathematical form) a is the vertical intercept, b is the slope of the line, and x represents the variable on the horizontal axis (the independent variable in standard mathematical form).
3. The income—consumption example places the dependent and the independent in proper mathematical form.
4. The price-quantity example reverses their position and places price (the independent variable) on the vertical axis and quantity (the dependent variable) on the horizontal axis.
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