Question

The decline of salmon fisheries along the Columbia River in Oregon has caused great concern among commercial and recreational fishermen. The paper ""Feeding of Predaceous Fishes on Out-Migrating Juvenile Salmonids"" gave the accompanying data on y = maximum size of salmonids consumed by a northern Squaw fish and x = squawfish length, both in millimeters.

The accompanying data is from MINITAB
Predictor Coef Stdev
Constant -89.09 16.83
length 0.72907 0.04778
t-ratio
-5.29
15.26
р
0.000
0.000
S=12.56
R-sq=96.3%
What is the correlation value in the given data?

a) 96.3%
b) 0.963
c) 9.81
d) 0.981

Answer 1

Favorable weather conditions in 2015 likely increased the salmon population and quantity available for commercial fishing, which may have caused a decrease in salmon prices due to increased supply, assuming demand stayed constant.

Step-by-step explanation:

During the summer of 2015, favorable weather conditions off the California coast contributed to an abundant salmon population. Heavy rainfall increased river water levels aiding salmon breeding, cooler ocean temperatures boosted plankton growth which is crucial to marine food chains, and steady weather allowed uninterrupted fishing operations. These factors likely lead to an increased quantity of salmon. According to the essential principles of supply and demand, an increase in supply, unless matched by an increase in demand, could result in a decrease in the price of salmon. These favorable conditions could have led to an oversupply in the market, potentially reducing salmon prices as sellers try to sell their larger catches. However, this analysis is contingent on the demand for salmon remaining constant or not increasing proportionally to the supply.

Quantity (thousands of fish) is illustrated in Figure 3.16, which shows how unusually good weather could result in changes to both the quantity and price of salmon.