Elasticity measures the effect of a 1 percent change in an explanatory variable on the dependent variable. This is calculated as the percentage change in Y (the dependent variable) divided by the percentage change in X (the explanatory or independent variable). Elasticities tend to differ when measured at different points on the regression line. The mean elasticity is the mean average of the elasticities at these different points.
Elasticities are useful because they are unit-free. This means that they provide a more accessible means of interpreting and explaining the effects of causal variables.
A high elasticity indicates that the dependent variable is highly responsive to changes in the explanatory variable.
More terms such as mean elasticity in Dictionary M.
- Manual Message Control:
- Help provides an interface for applications to enable subsequent processing by describing various data combinations and the required activities. One use of message control is to print a document in a mean elasticity definition.
- Manual Master Contract Termination:
- Help that represents the termination of the master contract between the master contract holder and the contract-managing organizational unit (such as the bank). Only the master contract itself is mean elasticity explain.
- Manual Monitoring Balance:
- Help A balance that monitors the timely and correct payment (meaning the correct value) of agreed amounts mean elasticity what is.
- Manual Maintenance Work Package:
- Help of package in Maintenance and Service Planning: Planned Contains a collection of maintenance demands, their corresponding maintenance orders, and a slot to perform the checks Unplanned Contains a mean elasticity meaning.
- Manual Mass Activation Program:
- Help A function that activates a list of ABAP Dictionary objects. A mass activation program is used to activate imports where all objects of a transport request are activated mean elasticity abbreviation.
