+3 votes
in Economics by kratos

Mention which type of correlation is associated with

(a) Production and Price of Vegetable.

(b) Temperature and sale of ice creams.

1 Answer

+1 vote
by kratos
 
Best answer

(a) There is a negative correlation between production and price of vegetables. If the production of vegetables increases, which leads to increase in supply, it will result in decrease in price of vegetables.

(b) There is a positive correlation between temperature and sale of ice creams. If the temperature increases, there will be an increase in the sales of ice creams and vice versa.

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