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- Southwest Airlines is able to keep fares low, in part because of relatively low maintenance costs on its airplanes. One of the main reasons for the low maintenance costs is that Southwest flies only one type of aircraft, the Boeing 737. However, Southwest flies three different versions of the 737. Suppose Southwest decides to conduct a study to determine whether there is a significant difference in the average annual maintenance costs for the three types of 737s used. a. State an independent variable for such a study. b. What are some of the levels or classifications that might be studied under this variable? c. Give a dependent variable for this study.U.S. Population The U.S. population can be modeledby the function y = 165.6x1.345, where y is in thousands and x is the number of years after 1800.a. What was the population in 1960, according tothis model?b. Is the graph of this function concave up or concave down? What does this mean?c. Use numerical or graphical methods to findwhen the model estimates the population to be93,330,000.Test Design: Suppose I want to test the impact of soccer coaches on soccer teams. How would you test this? Include a few (3 or 4) independent variables to explain the dependent variable. Describe the data and write the regression equation.
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- Econometrics Thomas Eisensee and David Stromberg wanted to measure how much news coverage of a foreign disaster impacted the amount of disaster relief provided by the U.S. government. They argue that the simple relationship would be biased. Let X = Minutes of News Coverage and Y= Disaster Aid. Choose a variable X2 that could bias the simple relationship. This variable should impact the amount of coverage and impact the amount of aid for reasons other than purely news coverage. Eisensee and Stromberg introduce an instrument Z = During the Olympics. Explain how Z could satisfy the relevant and exogenous criteria. Explain how you could use Z to estimate the impact of X on Y free from X2 bias. Hint: you should mention two stages.What is the lowest level of measurement for the data where the mode could bedetermined?A. NominalB. OrdinalC. IntervalD. Ratio Consider a data set of 11 distinct measurements with mean equal to A and median equalto B. If the highest value was decreased to a value smaller than the median B, how wouldthe mean and median be affected?A. The mean and median will both decrease.B. The mean and median will not change.C. The mean will not change and the median will decrease.D. The mean will decrease and the median will not change. What is one distinction between a parameter and a statistic?A. A parameter is only based on conceptual measurements, but a statistic is basedon a combination of real and conceptual measurements.B. A statistic changes every time you try to measure it (using different samples), but aparameter remains fixed.C. A parameter changes each time you try to measure it, but a statistic remains fixedacross samples.D. The true value of a statistic can never be known but the true…You are given the following dataset from a sample of the population. Superhero Number of Villains Captured Number of Losses Average Hours of Sleep Spiderham 30 9 12 Alligator Loki 50 1 23 Iron Man 20 8 6 Phil Coulson 18 2 8 Yelena Belova 25 5 2 Round all answers to 2 decimal places. IE: 3.567 = 3.57 D. Calculate the correlation between the number of villains captured and average hours of sleep . If answer is negative, include negative sign. E. Calculate the sample covariance between the average number of losses and average hours of sleep . If answer is negative, include negative sign.
- You are given the following dataset from a sample of the population. Superhero Number of Villains Captured Number of Losses Average Hours of Sleep Spiderham 30 9 12 Alligator Loki 50 1 23 Iron Man 20 8 6 Phil Coulson 18 2 8 Yelena Belova 25 5 2 Round all answers to 2 decimal places. IE: 3.567 = 3.57 A. What kind of dataset is this? Answer either Panel, Time series, or cross sectional B. Calculate the average number of villains captured in this sample. C. Calculate the variance of the number of villains captured in this sample. D. Calculate the correlation between the number of villains captured and average hours of sleep . If answer is negative, include negative sign. E. Calculate the sample covariance between the average number of losses and average hours of sleep . If answer is negative, include negative sign.Explain Distribution of Regression Statistics with Normal Errors?Jack is a discus thrower and hopes to make it to the Olympics some day. He has researched the distance (in meters) of each men's gold medal discus throw from the Olympics from 1920 to 1964. Below is the equation of the line of best fit Jack found. y=0.34x+44.63y=0.34x+44.63 When calculating his line of best fit, Jack let x represent the number of years since 1920 (so x=0 represents 1920 and x=4 represents 1924). Using the line of best fit, estimate the distance Jack should be able to throw in order to be able to win the 2020 Olympics.