The only part of the data we will be using are Total first class mail volume (co

Question

The only part of the data we will be using are Total first class mail volume (column E) and 1st class stamp price (column G).
Data from the United States Postal Service (USPS) Annual operating Total Career Total Mail Year Volume Revenue Employees 2015 $68.8 B 154.2 B 493.381 2014 155.4 B $67.8 B 487,054 2013 S67.2 B 489,727 158.4 B 2012 S65.2 B 522.144 159.9 B 2011 $65.7 B 551,570 168.3 B 2010 583,908 S67.1 B 170.9 B 2009 $68 B 176.7 B 623.128 200N S749B 663.238 202.7 B 2007 S74.7 B 684,762 212.2 B 2006 696,138 S72.7 B 213.1 B Total First-class First-Class Single st Class Stamp Mail Volume Piece Mail Price (cents) (billions) Volume 62.4 20.6 B 49 63.6 21.5 B 49 65.8 22.6 B 46 68.7 45 23.2 B 25.8 B 7.6 28.9 B 31.6 B 82.7 90.7 354 B 42 95.9 42.3 B 44.4 B 97,7 39

Explanation / Answer

1st class stamp price is independent of total first class mail volume. i.e. the price is fixed for mail order. So that, 1st class stamp price is independent variable (predictor variable) and total first class mail volume is dependent variable (Response). As 1st class stamp price (predictor variable) decreases, the total first class mail volume (Response) increases . Predictor variable - 1st class stamp price Response variable - total first class mail volume

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