Explain how the first variable may cause the second (e.g. Frequent exercise causes elevated mood (perhaps because of the release of endorphins).
Explain how the second variable may cause the first (e.g. Elevated mood causes frequent exercise (perhaps because when people feel good they enjoy exercise more.
Explain how they might ‘cause’ each other in some dynamic relationship. (e.g. Elevated mood increases exercise, and that in turn tends to improve mood, and perhaps better health, and self-esteemed.
Identify a third factor that might explain the relationship observed (e.g. Certain people are generally predisposed to elevated mood and propensity to exercise frequently, or, people are both happier in the summer and exercise more frequently, and the opposite in the winter.
Name one factor that influences the variable you want to call the ‘effect’ (relationship status influences mood, :me of day influences mood, drug use influences more.