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Answer:

Scatter plots help visually illustrate relationships between two economic phenomena, such as employment and output, inflation and retail sales, and taxes and economic growth.

Step-by-step explanation:

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Answer:

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  • A scatterplot is a type of data chart that shows the relationship between two numerical variables.

Examples of how scatterplots are used in the real-life world include:↓

1. The correlation between the height of an individual and their weight.

2. The correlation number of hours spent by a student in watching movies and his exam scores.

3. In Economics, scatterplots are also applicable in the correlation between inflation and retail sales of commodities.  

  • Hope this helps!
  • Have a Wonderful Day!

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