Chapter 20 Curved Patterns
The Price of Gasoline Can Be a Painful Reminder of the Laws of Supply and Demand.
The first big increase struck in 1973 when the Organization of Petroleum Exporting Countries (OPEC) introduced production quotas. Gas prices had varied so little that accurate records had not been kept. The data shown in Figure 20.1 begin in 1975, in time to capture a second jump in 1979. After selling for 60 to 70 cents per gallon, the price rose above $1.40 per gallon in 1981. That jump seems small, ...
Get Statistics for Business: Decision Making and Analysis, 3rd Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
