Let’s return to the model of iPod prices on eBay that was developed in Exercise 7 in Chapter 3. That equation was: PRICEi = 109.24 + 54.99NEWi - 20.44SCRATCHi + 0.73BIDRSi 15.342 15.112 10.592 t = 10.28 -4.00 1.23 N = 215 F = 55.09 where: PRICEi = the price at which the ith iPo
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Let’s return to the model of iPod prices on eBay that was developed in
Exercise 7 in Chapter 3. That equation was:
PRICEi = 109.24 + 54.99NEWi - 20.44SCRATCHi + 0.73BIDRSi
15.342 15.112 10.592
t = 10.28 -4.00 1.23
N = 215 F = 55.09
where: PRICEi = the price at which the ith iPod sold on eBay
NEWi = a dummy variable equal to 1 if the ith iPod was
new, 0 otherwise
SCRATCHi = a dummy variable equal to 1 if the ith iPod had a
minor cosmetic defect, 0 otherwise
BIDRSi = the number of bidders on the ith iPod
a. In theory, the more bidders there are on a given iPod, the higher
the price should be. Create and test hypotheses at the 1-percent
level to see if this theory can be supported by the results.
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- Repeat Example 5 when microphone A receives the sound 4 seconds before microphone B.The 2019-2020 flu season was especially tough. By the end of the season, an estimated total of 49 million people in the United States had contracted the flu, of whom an estimated 79,000 died from the flu. Assume that the US population was 300,000,000 during the 2019-2020 flu season and that during the season, a total of 2.9 million Americans died from all causes (including the flu). Assume the population of the US remained the same at the midpoint of the season. Report mortality rates per 100,000. Be sure to express the measure in the correct format. a.What was the proportionate mortality rate from flu during the 2019-2020 flu season? b.What was the case fatality rate from flue during the 2019-2020 flu season?The 2019-2020 flu season was especially tough.By the end of the season, an estimated total of 49 million people in the United States had contracted the flu, of whom an estimated 79,000 died from the flu. Assume that the US population was 300,000,000 during the 2019-2020 flu season and that during the season, a total of 2.9 million Americans died from all causes (including the flu). Assume the population of the US remained the same at the midpoint of the season. Report mortality rates per 100,000. Be sure to express the measure in the correct format. c.What was the flu-related mortality rate during the 2019-2020 flu season? d.What is the all-cause mortality rate during the 2019-2020 flu season? e.In a country with an age distribution that is much younger than in the US, the proportionate mortality rate from flu in 2019 was 5%. Based on this information alone, can we determine that the risk of dying from flu in 2019 was higher in this country compared to the US? Why or why not?
- A report in LTO stated that the average age of taxis in the Philippines is 9 years. An operations manager of a large taxi company selects of 40 taxis and finds the average age of the taxis is 8.2 years. The of the population is 2.3 years. At can it be concluded that the average age of the taxis in his company is less than the national average?AUA wants to know whether recent alumni students from MBA class earn significantly more than recent alumni from BAB class. They take a sample of several students and ask the amount of their monthly salaries in USD (Sheet 32). What can AUA conclude at alpha=0.05? Sheet 32 MBA BAB 515 300 450 420 620 380 630 450 570 420 590 490 750 510 560 470 480 530 250 570 320 480 450 620 625 190 350 280 450 350 570 250 Select one: a. t(stat)=1.92, which is greater than t(cr)=1.7, therefore, we can conclude that MBA graduates earn more BAB graduates. b. t(stat)=1.89, which is greater than t(cr)=1.75, therefore, we can conclude that MBA graduates earn more BAB graduates. c. t(stat)=2.07, which is greater than t(cr)=1.69, therefore, we cannot conclude that MBA graduates earn more BAB graduates. d. t(stat)=2.07, which is greater than t(cr)=1.69, therefore, we can conclude that MBA graduates earn more BAB graduates.Data were collected from a group of senior citizens, ages 65 and older, about their age and pet ownership. The results were used to calculate the model ŷ = –0.24x + 18.48, where x represents the age in years and ŷ represents the predicted number of pets owned. If a 45-year-old is predicted to have more than 7 pets, would that be a reasonable use of the model? This is not reasonable because the prediction is based on someone outside the original population. This is reasonable because the model is based on real data. This is not reasonable because it is impossible to own more than 7 pets. This is reasonable because the prediction is based on someone within the original population.
- Data were collected from a group of senior citizens, ages 65 and older, about their age and pet ownership. The results were used to calculate the model ŷ = –0.24x + 18.48, where x represents the age in years and ŷ represents the predicted number of pets owned. If a 25-year-old is predicted to have more than 12 pets, would that be a reasonable use of the model? This is reasonable because the prediction is based on someone within the original population. This is not reasonable because the prediction is based on someone outside the original population. This is reasonable because the model is based on real data. This is not reasonable because it is impossible to own more than 12 pets.The estimated model was Theft = β0 + β1caught + β2penalty + β3gender + β4Income + β5Edu Provide an explanation of the expected signs of each of the coefficients, referring to relevant economic theory.For a population of highly creative individuals with a creativity score µ = 60 and σ = 10, determine the percentage(s) associated with the particular z – score(s). What percentage of highly creative individuals have a creativity score below a z – score of + 1? What percentage of highly creative individuals have a creativity score below a z – score of + 2? What percentage of highly creative individuals have a creativity score below a z – score of + 1? What percentage of highly creative individuals have a creativity score below a z- score of – 1? What percentage of highly creative individuals have a creativity score below a z – score of – 2? What percentage of highly creative individuals have a creativity score above a z – score of – 2? What percentage of highly creative individuals have a creativity score above a z – score of – 1?
- A researcher hypothesizes that electrical stimulation of the lateral habenula will resultin a decrease in food intake (in this case, chocolate chips) in rats. Rats undergostereotaxic surgery and an electrode is implanted in the right lateral habenula. Followinga ten day recovery period, rats (kept at 80 percent body weight) are tested for thenumber of chocolate chips consumed during a 10 minute period of time both with andwithout electrical stimulation. The testing conditions are counter balanced. Compute theappropriate t-test for the data provided below.Stimulation No Stimulation12 87 73 411 148 65 714 127 59 510 8What probability level did you choose and why?What were your degrees of freedom?Is there a significant difference between the two testing conditions?Interpret your answer.If you have made an error, would it be a Type I or a Type II error? Explain youranswer.A researcher hypothesizes that electrical stimulation of the lateral habenula will resultin a decrease in food intake (in this case, chocolate chips) in rats. Rats undergostereotaxic surgery and an electrode is implanted in the right lateral habenula. Followinga ten day recovery period, rats (kept at 80 percent body weight) are tested for thenumber of chocolate chips consumed during a 10 minute period of time both with andwithout electrical stimulation. The testing conditions are counter balanced. Compute theappropriate t-test for the data provided below.Stimulation No Stimulation12 87 73 411 148 65 714 127 59 510 81. What is your computed answer?2. What would be the null hypothesis in this study?3. What would be the alternate hypothesis?4. What probability level did you choose and why?5. What were your degrees of freedom?6. Is there a significant difference between the two testing conditions?7. Interpret your answer.8. If you have made an error, would it be a Type I or a Type II…Ten years ago, the town of Easton decided to increase its annual spending on education so that its high school graduates would be able to earn higher wages. Now Easton has asked you to evaluate the effectiveness of the spending increase. Their data show that before the spending increase, the average annual salary of recent high school graduates was $25,000 and that now that average salary has risen to $28,500. Fortunately for your analysis, a neighboring community (Allentown) did not change its annual spending on education. Ten years ago, recent Allentown high school graduates earned an average of $22,500, and now that average is $23,750. (b) What underlying assumption do you have to make in order for your estimate to be valid? What might cause your underlying assumption to be invalid?
