Homework+7
.docx
keyboard_arrow_up
School
University of Memphis *
*We aren’t endorsed by this school
Course
3604
Subject
Economics
Date
Apr 26, 2024
Type
docx
Pages
2
Uploaded by starkiadiorrr on coursehero.com
Name starkia Anderson_______________________
Homework 7
1) A researcher is interested in opinions toward the mayor, so she asked 450 respondents to rate his job performance on a scale from 1 (Extremely poor performance) to 7 (Extremely strong performance). Her sample mean is 6.1 and her standard deviation is 2.4. Based on the information she has obtained from her
sample, she can be 95% confident that the true population mean falls within what range? (In other words,
calculate the 95% confidence interval.) (5 points) Falls within 5.878 and 6.322
2) Men and women were asked to rate the president’s job performance on a scale from 1 (Extremely poor performance) to 7 (Extremely strong performance). Their responses are arrayed below. Test the null hypothesis of no difference between Men’s and Women’s ratings of the president’s performance. What is
the difference between means? Can we be 95% confident that this difference is statistically significant? (5 points)
Men
Women
3
7
1
4
5
4
7
5
1
4
3
3
2
6
4
1
5
7
4
Men Women
Mean: 3.44_____________ Mean: 4.5_____________
Variance4.028:___________ Variance:___________3.389
Standard error0.88257:___________
t
-score (calculated):__________-1.20
Degrees of freedom:____________17
t
-score (book):__________2.110
Answer in words: Difference between means is -1.06. There is not enough data to say that there is any difference between Men’s and Women’s ratings of President Obama’s performance.
Name starkia Anderson_______________________
Homework 7
3) A researcher is interested in how the financial crisis affected inequality in countries around the world. To do this, she compares countries’ GINI coefficient (the standard measure of inequality in a county) in 2007 to their GINI coefficient in 2009. Larger coefficients mean greater inequality. Her data appear below. Interpret her results. Can she be 95% confident that the difference she observes is real and not simply the result of random chance? (5 points)
Country
2007
2009
Australia
35.0
35.2
Brazil
57.4
57.2
Chile
57.0
54.2
France
32.7
33.5
Germany
28.2
28.2
Italy
36.0
36.2
Japan
24.9
25.0
Netherlands
30.9
30.6
Sweden
25.1
25.2
United States
40.8
41.0
Mean 2007:_________36.800
Mean 2009:_________36.63
Standard error:___________5.1561
t
-score (calculated):__________11.529
Degrees of freedom:____________18
t
-score (book):__________0.033
Answer in words: There is not enough evidence to show that the value has changed.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
2) You work for the FTC. A manufacturer of detergent
claims that the mean weight of detergent is at least
6.5 lb. You take a random sample of 64 containers.
You calculate the sample average to be 6.43 lb. with
a standard deviation of .14 lb. At the 0.02 level of
significance, is the manufacturer correct?
arrow_forward
A large milling machine produces steel rods to
certain specifications. The machine is
considered to be running normally if the
standard deviation of the diameter of the rods
is at most 0.42 millimeters. The line supervisor
needs to test the machine is for normal
functionality. The quality inspector takes a
sample of 45 rods and finds that the sample
standard deviation is 0.49. What is the test
statistic?
Select one:
а. 59.89
b. 48.63
с. 50.50
d. 52.45
arrow_forward
A simple random sample of 8 employees of a corporation provided the following information.
Employee
Age
Gender
1 2
3
21 37 26
W M W
4
5
6
7 8
44 48 50 25 22
W W M M
M
(a) Determine the point estimate for the average age of all employees.
(b) What is the point estimate for the standard deviation of the population? (Round your answer to four decimal places.)
(c) Determine a point estimate for the proportion of all employees who are female.
arrow_forward
10. 7 students were asked how many pencils they had. The responses were 2, 5, 8, 3, 1, 6,
and 4.
a. Calculate the sample mean
8. Find the sample standard deviation
C Find the Q1, Q3, and the interquartile range.
arrow_forward
In one of its Spring catalogs, L.L. Bean advertised footwear on 29 of its 192 catalog pages. Suppose we randomly surgery 20 pages. We are interested in the number of pages that advertise footwear. Each page may be picked at most once. Calculate the standard deviation
arrow_forward
SCCoast, an Internet provider in the Southeast, developed the following frequency distribution on the age of Internet users. Find the mean and the standard deviation. (Round squared deviations to nearest whole number and final answer to 2 decimal places.)
Age (years)
Frequency
10 up to 20
3
20 up to 30
7
30 up to 40
18
40 up to 50
20
50 up to 60
12
arrow_forward
Question of the day.
The mean weekly sales of the chocolate bar in
candy stores was 146-3 bars per store. After
an advertising campaign the mean weekly
sales in 22 stores for a typical week increased
to 153-7 and showed a standard deviation of
17-2. Was the advertising campaign
successful?
arrow_forward
QUESTION 28
"For a population with a mean = 440 and a standard deviation = 110, what is the X value corresponding to z = 2.67? (Be sure to round answer to the second decimal place)."
arrow_forward
d) Suppose this is a representative sample of births in a given year at Johns Hopkins. Suppose,
instead of a sample of seven values, we have a sample of 100 birth weights. How should the mean,
median, and standard deviation of this sample compare to the same statistics for the sample of
seven birth weights?
arrow_forward
Question: It is known that the mean diameters
of rivets produced by two firms A and B are
practically the same but the standard
deviations may differ. For 22 rivets produced
by firm A, the standard deviation is 2.9 mm.
while for 16 rivets manufactured by firm B, the
standard deviation is 3-8 mm. Compute the
statistic would use to test whether the
you
products of firm A have the same variability as
those of firm B and test its significance?
arrow_forward
ou would like to get the highest paying job possible after graduating from UCR and are currently deciding
vhether to enroll in ECON 108 in the fall term or not. You find a sample of recent UCR graduates that majc
n Economics (there are no double majors in the samples). You sampled 100 Economics majors that took
ECON 108 and you find that the average starting salary is 72K dollars, with a sample standard deviation of
10K dollars. You sampled 75 Economics majors that did not take ECON 108 and you find that the average
starting salary is 65K dollars, with a sample standard deviation of 15K dollars. Which of the following
statements is most correct?
O I am not very confident in the results of my hypothesis test because the range in which I fail to reject the null hypothesis
is relatively large.
O I want to be very confident in the results of my hypothesis test, so the range in which I fail to reject the null hypothesis is
relatively large.
O The range in which I fail to reject is small, so…
arrow_forward
What do you mean by Sample Variance, Sample Standard Deviation,and Standard Error?
arrow_forward
A health expert evaluates the sleeping patterns of adults. Each
week she randomly selects 40 adults and calculates their
average sleep time. Over many weeks, she finds that 5% of
average sleep time is less than 3 hours and 5% of average
sleep time is more than 3.4 hours. What are the mean and
standard deviation (in hours) of sleep time for the population?
(Round "Mean" to 1 decimal places and "standard deviation"
to 3 decimal places.)
Mean
Standard deviation
arrow_forward
Question of the day:
A machine is designed to produce insulating
washers for electrical devices of average
thickness of 0.025 cm. A random sample of 10
washers was found to have an average
thickness of 0.024 cm with a standard deviation
of 0.002 cm. Test the significance of the
deviation. Value of t for 9 degrees of freedom at
5% level is 2.262?
arrow_forward
The reliability of an estimator is assessed in terms of its _____.
Select one:
a. mean
b. ease of computation
c. coefficient of variation
d. variance
arrow_forward
QUESTION 8
Having an extreme score in a sample (outliers) will NOT effect which of the following?
standard deviation
mean
mode
variance
arrow_forward
7. It is well known that car buyers often add accessories to their new cars. A sample of 179
Ottawa purchasers yielded a sample mean of $5000 worth of accessories added to the purchase
above the base sticker price. Suppose the cost of accessories purchased for all Ottawa has a
standard deviation of $1500.
(a) Calculate a 95% confidence interval for the average cost of accessories on Ottawa.
- Section Break -
(b) Determine the margin of error in estimating the average cost of accessories on Ottawa.
(c) What sample size would be required to reduce the margin of error by 50%?
arrow_forward
Suppose a baker wants to know, on average, how many pastries they sell in a day.
They sampled over 4 days. On the first day they sold 10, on the second day they sold 12, on the third day they sold 18, and on the
fourth day they sold 16.
The population standard deviation of pastry sales is 3. What is the point estimate (average) number of pastries sold?
26
08
056
O 14
Nex
arrow_forward
A quality engineer in charge of a coffee filter pack production line was concerned about
the weight (in grams) of the filter packs being produced. The quality team sampled three
packs every hour, throughout the production day. The table below shows the results:
Sample
number
1
2
3
4
5
6
7
20.6
20.1
20.6
21.5
21.4
21.1
21.4
Weight (g)
21.1
20.0
21.2
22.2
21.1
22.3
20.9
20.7
20.3
21.3
21.4
19.9
19.9
21.1
arrow_forward
Question 2
In 2015, the average duration of long-distance telephone calls from a certain town was 3.9 minutes.
A telephone company wants to perform a test to determine whether this average duration of long-
distance calls has changed. Fifty calls, originating from the town, was randomly selected and the
following summary minutes.
Σx= 205
E(x - x)? = 56.43
a) Calculate the sample mean, &.
b) Calculate the sample standard deviation
c) Using the p value approach at the 1% level of significance, test whether the mean duration of
long-distance calls from the town had increased.
d) Construct the 99% confidence interval for the population mean duration of the long-distance
calls from the town.
arrow_forward
Please see below. Note that the answer IS NOT 60.
arrow_forward
Also find the p value and test statistic
arrow_forward
Consider the following data:
−11,−5,−5,−11,13,−11,−5−11,−5,−5,−11,13,−11,−5
Copy Data
Step 2 of 3:
Calculate the value of the sample standard deviation. Round your answer to one decimal place.
arrow_forward
A sports shop selects a random sample and records the sales of items made in China and thosemade in America.
Country of origin
n
mean
St.Deviation
China
50
22.5
9.75
America
33
33.15
11.6
What is the SE Mean for the sales from China?
arrow_forward
The distribution of annual profit at a chain of stores was approximately normal with mean u =
$66,000 and -
standard deviation o =
$21,000.
The executives conducted an audit of the stores with the lowest 20% of profits.
What is closest to the maximum annual profit at a store where the executives conducted an audit?
Round to the nearest thousand dollar.
arrow_forward
The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13, 2006). Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 44 male consumers was $137.38, and the average expenditure in a sample survey of 35 female consumers was $65.11. Based on past surveys, the standard deviation for male consumers is assumed to be $35, and the standard deviation for female consumers is assumed to be $12. The z value is 2.576.
Round your answers to decimal places.
b. At 99% confidence, what is the margin of error?
c. Develop a 99% confidence interval for the difference between the two population means.
arrow_forward
Show your work
A stenographer claims that she can take
dictation at the rate of 120 words per minute.
Can we reject her claim on the basis of 100
trials in which she demonstrates a mean of
116 words with a standard deviation of 15
words? Use 5 per cent level of significance.
arrow_forward
A political pollster wants to ensure that their poll on attitudes toward separation of church and state gets responses from all major religious groups. What kind of sampling method should be used?
arrow_forward
25
An economist would like to test the hypothesis that the average daily screen time that a person
spends on mobile devices is greater than 300 minutes. A random sample of 30 smartphone users
was selected and their daily screen time was recorded. The standard deviation for the 30
smartphone owners using their devices is 112.19 minutes and the sample mean of the daily screen
time is 297.17 minutes. Using a = 0.05, the test statistic of the sample mean is
-1.38
-0.138.
0.138
O 1.38
arrow_forward
Economic topic. Show your work
A weighing machine without any display was
used by an average of 320 persons a day with
a standard deviation of 50 persons. When an
attractive display was used on the machine, the
average for 100 days increased by 15 persons.
Can we say that the display did not help much?
Use a level of significance of 0.05?
arrow_forward
Bob Nale is the owner of Nale’s Quick Fill. Bob would like to estimate the mean number of gallons of gasoline sold to his customers. Assume the number of gallons sold follows the normal distribution with a population standard deviation of 1.80 gallons. From his records, he selects a random sample of 80 sales and finds the mean number of gallons sold is 6.90.
What is the point estimate of the population mean? (Round your answer to 2 decimal places.)
Develop a 95% confidence interval for the population mean. (Use z Distribution Table.) (Round your answers to 2 decimal places.)
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education
Related Questions
- 2) You work for the FTC. A manufacturer of detergent claims that the mean weight of detergent is at least 6.5 lb. You take a random sample of 64 containers. You calculate the sample average to be 6.43 lb. with a standard deviation of .14 lb. At the 0.02 level of significance, is the manufacturer correct?arrow_forwardA large milling machine produces steel rods to certain specifications. The machine is considered to be running normally if the standard deviation of the diameter of the rods is at most 0.42 millimeters. The line supervisor needs to test the machine is for normal functionality. The quality inspector takes a sample of 45 rods and finds that the sample standard deviation is 0.49. What is the test statistic? Select one: а. 59.89 b. 48.63 с. 50.50 d. 52.45arrow_forwardA simple random sample of 8 employees of a corporation provided the following information. Employee Age Gender 1 2 3 21 37 26 W M W 4 5 6 7 8 44 48 50 25 22 W W M M M (a) Determine the point estimate for the average age of all employees. (b) What is the point estimate for the standard deviation of the population? (Round your answer to four decimal places.) (c) Determine a point estimate for the proportion of all employees who are female.arrow_forward
- 10. 7 students were asked how many pencils they had. The responses were 2, 5, 8, 3, 1, 6, and 4. a. Calculate the sample mean 8. Find the sample standard deviation C Find the Q1, Q3, and the interquartile range.arrow_forwardIn one of its Spring catalogs, L.L. Bean advertised footwear on 29 of its 192 catalog pages. Suppose we randomly surgery 20 pages. We are interested in the number of pages that advertise footwear. Each page may be picked at most once. Calculate the standard deviationarrow_forwardSCCoast, an Internet provider in the Southeast, developed the following frequency distribution on the age of Internet users. Find the mean and the standard deviation. (Round squared deviations to nearest whole number and final answer to 2 decimal places.) Age (years) Frequency 10 up to 20 3 20 up to 30 7 30 up to 40 18 40 up to 50 20 50 up to 60 12arrow_forward
- Question of the day. The mean weekly sales of the chocolate bar in candy stores was 146-3 bars per store. After an advertising campaign the mean weekly sales in 22 stores for a typical week increased to 153-7 and showed a standard deviation of 17-2. Was the advertising campaign successful?arrow_forwardQUESTION 28 "For a population with a mean = 440 and a standard deviation = 110, what is the X value corresponding to z = 2.67? (Be sure to round answer to the second decimal place)."arrow_forwardd) Suppose this is a representative sample of births in a given year at Johns Hopkins. Suppose, instead of a sample of seven values, we have a sample of 100 birth weights. How should the mean, median, and standard deviation of this sample compare to the same statistics for the sample of seven birth weights?arrow_forward
- Question: It is known that the mean diameters of rivets produced by two firms A and B are practically the same but the standard deviations may differ. For 22 rivets produced by firm A, the standard deviation is 2.9 mm. while for 16 rivets manufactured by firm B, the standard deviation is 3-8 mm. Compute the statistic would use to test whether the you products of firm A have the same variability as those of firm B and test its significance?arrow_forwardou would like to get the highest paying job possible after graduating from UCR and are currently deciding vhether to enroll in ECON 108 in the fall term or not. You find a sample of recent UCR graduates that majc n Economics (there are no double majors in the samples). You sampled 100 Economics majors that took ECON 108 and you find that the average starting salary is 72K dollars, with a sample standard deviation of 10K dollars. You sampled 75 Economics majors that did not take ECON 108 and you find that the average starting salary is 65K dollars, with a sample standard deviation of 15K dollars. Which of the following statements is most correct? O I am not very confident in the results of my hypothesis test because the range in which I fail to reject the null hypothesis is relatively large. O I want to be very confident in the results of my hypothesis test, so the range in which I fail to reject the null hypothesis is relatively large. O The range in which I fail to reject is small, so…arrow_forwardWhat do you mean by Sample Variance, Sample Standard Deviation,and Standard Error?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education