The accompanying table shows the relationship between work- ers' hours of work per week and their hourly wage rate. Apart from the fact that they receive a different hourly wage rate and work different hours, these five workers are otherwise identical.
a. Which variable is the independent variable? Which is the dependent variable?
b. Draw a scatter diagram illustrating this relationship. Draw a (nonlinear) curve that connects the points. Put the hourly wage rate on the vertical axis.
c. As the wage rate increases from $15 to $30, how does the number of hours worked respond according to the rela- tionship depicted here? What is the average slope of the curve between Athena's and Boris's data points using the arc method?
d. As the wage rate increases from $60 to $75, how does the number of hours worked respond according to the rela- tionship depicted here? What is the average slope of the this diagram? Suppose you reverse what is measured on the two axes. What is the argument made then?
e. In order to reduce its payouts to policyholders, should the insurance company therefore ask the city to send fewer firefighters to any fire?