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Question: Equations: An equation with two variables, X and Y, is a simple way to show a relationship given …

Question: Equations: An equation with two variables, X and Y, is a simple way to show a relationship given …

Equations: An equation with two variables, X and Y, is a simple way to show a relationship given information about X, we can calculate the value (numerical amount) of Y. And every time calculate how much Y changes. For example, the equation Y 3(x) tells us that value of X. It means that every time X increases by 1, Y increases by 3. (substitute) the different values of X in the left-hand column of the table into the equation. of cause a X changes, we can Ph Y is always three times the To calculate the value of Y we fill in (9) Calculate Y for the four different possible values of X in the table below 2 Linear Equations and Graphs: A simple equation with two variables of the type below shows a linear relationship between X and Y. It has this name because the graph is a straight line. All linear equations have the same basic format, which economists indicate with the symbols below (different than mathematicians) Y = a + b(X) constant slope term Y53(x) a the constant term in the equation. It is the value of the Y-intercept (it indicates where the line on the graph will cross the Y-axis, when X 0). On a graph of this line, when the value of “a” changes the whole line shifts up or down. b the slope of the line. It tells us that whenever X changes, Y changes by “b” times the amount of the change in X. So if we have a linear equation, we can look at it and find out the slope of the line.

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