Regression analysis is used for prediction, while correlation analysis is used to measure the strength of the association between two variables

Refer to Table 20-19. Looking at the table above, what is the approximate rate of growth of real average hourly earnings from 2014 to 2015?

A) 15% B) 4.4% C) -1.5% D) -4.8%

Assume an individual is currently using all of his income to consume two goods — X and Y

If the prices of X and Y are $3 and $8, respectively, and the marginal rate of substitution of X for Y is four, is this individual maximizing his net benefits from consumption? If not, what should he do to increase his total utility?