Inflation and Unemployment - Is There a Correlation?
Source: Council for Economic Education (EconEdLink) | Type: Lesson
Students view a video on inflation and are introduced to the concept of unemployment. They then utilize Excel to create scatterplots, regression line equations, and correlation coefficients (r) for inflation and unemployment data from the 1980s, 1990s, and the 2000s. Students compare the results from the different time periods to determine the type of relationship and the strength of the correlations. This lesson is suitable for Algebra II, Pre-Calculus, or Statistics as an application of regression and correlation.
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