Now that you have had a chance
Now that you have had a chance to review the content covered sofar, take a moment to reflect upon what you have learned and postin this discussion board below. Consider one or two of thefollowing statements in your post: Provide a real life situationthat pertains to the information in Chapter 4 and 5. Why wouldknowing whether a linear relation exists be important? Where wouldthis apply? Provide an example. Would it beimportant to know if it was positive or negative? Why isprobability important? Where could it be used? Where have you seenit used? Be ready to comment on your classmates’ posts!
Answer:
Existence of linear relationship is important to us in many ways.
We can prediction the chances of occurrence of a particularevent and that too very close if the relationship is linear. Alinear relationship can be both positive and negative depending onthe situation whether the commodities are complementing each otheror they are alternate to one other.
Complementing commodities are positively linearly related andalternating commodities are negatively linearly related.
Some more examples in thebelow figure about complementary and alternate commodities.
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