Statistics For Management And Economics 11th Edition Gerald Keller - Solutions

Do people tend to marry similarly educated individuals? To answer the question, perform a statistical analysis to determine whether there is enough evidence to infer that one’s educational attainment (EDUC) and spouse’s educational attainment (SPEDUC) are positively linearly related.
Is there enough evidence to conclude that Republicans get the correct answer to the following question correct more often than do Democrats (PARTYID3: 1 = Democrat, 3 = Republican): “The center of the earth is very hot.” (1 = True, 2 = False, 8 = Don’t know, 9 = No answer)? The correct
One measure of the health of the economy is how many workers believe that it is easy to find a job with another employer with approximately the same income and fringe benefits as they have now. Estimate the number of people who believe that it is very easy (JOBFIND: 1 = Very easy).
Do native-born Americans work harder than Americans born outside the United States BORN: 1 = United States, 2 = Not in the United States)? Is there enough statistical evidence to conclude that those born in the United States work longer hours (HRS1) than non-natives?
Do people who work for themselves (WRKSLF: 1 = Self-employed, 2 = Someone else) make more income (RINCOME) than people who work for someone else? Conduct a test to answer the question.
Do individuals who want the government to help people improve their standard of living also believe that government should do more to solve the country’s problems? Conduct a test to determine whether there is a positive linear relationship between these variables (HELPPOOR: Should government
The world economy took a hit during the 2007–2009 financial crisis. Have American families recovered? Estimate with 95% confidence to mean family income (INCOME).
As societies age the demands on the health-care system grow. It becomes more important for individuals to ensure that they are taking steps to become and maintain good health. The survey asked respondents to judge their own health. Is there enough evidence to conclude that majority of the
Estimate the number of Americans who were born outside the United States (BORN: 1 = United States, 2 = Not in the United States).
The survey asked respondents the following question, “Should government improve standard of living of poor people?” The responses are HELPPOOR: 1 = Government act; 2, 3, 4, 5 = People should help themselves. Is there enough evidence to infer that there are differences between Democrats,
The survey asked respondents the following question, “Should government reduce income differences between rich and poor?” How does the educational attainment affect responses to the question? Use an appropriate technique to determine whether education (EDUC) and support for government action to
Are Republicans more financially successful than either Democrats or Independents? Are there differences in total family income (INCOME) between the three political categories (PARTYID3: 1 = Democrat, 2 = Independent, 3 = Republican)? Conduct a test to answer the question.
The survey asked respondents the following question: “Generally speaking, do you think of yourself as a Republican Democrat, Independent, or what?” Estimate the number of Americans who consider themselves Republicans (PARTYID: 5 = Not strong Republican, 6 = Strong Republican).
Does the amount of education affect respondents’ beliefs about the role of government in the following question? “Should government do more or less to solve country’s problems?” The responses are HELPNOT: 1 = Government should do more; 2, 3, 4, 5 = Government does too much.Is there enough
Do teenage and adult children living with their parents contribute to household income by holding down full- or part-time jobs? And is it more likely that they do so for affluent than for less-affluent families? To answer the question, test to determine whether the data allow us to conclude that
Does one’s occupation affect whether the household has been turned down for credit in the previous 5 years (TURNDOWN: 1 = Yes, 2 = No)? Is there enough evidence to conclude that there are differences between the three working categories (OCCAT2: 1 = Managerial/professional, 2=
One of the questions asked respondents whether their household had been late with any debt payment in the previous year (LATE: 0 = No, 1 = Yes). Is there enough evidence to conclude that male heads of households are less likely than female heads (HHSEX: 1 = Male, 2 = Female) to be late with a debt
Do banks and financial institutions turn down female heads (HHSEX: 1 = Male, 2 = Female) of households more frequently than male heads of households’ application for credit (TURNDOWN: 1 = Turned down)? Use an appropriate statistical method to determine whether there is enough evidence to answer
Between student loans, credit card balances, vehicle loans, and mortgages almost all household have some debt. Estimate the number of Americans with no household debt (HDEBT: 0).
One survey question asked in which industry was the head of the household employed in. One of the categories was mining, construction, or manufacturing, all of which may be in decline. Estimate the number of people employed in one of these industries (INDCAT: 1).
The nuclear family is defined as a pair of adults and their children. Is this going out of style? Estimate the proportion of nuclear family households (FAMSTRUCT: 4 = Married or living with partner + children).
Do more educated heads of households have less debt? Conduct a test to determine whether there are differences in household debt (DEBT) between the four categories of education (EDCL 1 = No high school diploma, 2 = High school diploma, 3 = Some college, 4 = College degree.).
One way to judge how well upperclass households are doing this year as opposed to other years is to determine what their normal income is. Estimate the normal income for upper-class households (NORMINC).
Who goes deeper into debt (DEBT) among heads of middle-class households, men or women (HHSEX: 1 = Male, 2 = Female)? Conduct a test to determine whether there is enough evidence to conclude that male heads of households go deeper into debt.
The upper class in the 2010 survey had household net worth between $1,345,975 and $7,402,095. In 2010, the interest paid by money market deposit and money market mutual funds paid very low interest. Estimate the mean invested in these accounts by households in the upper class (MMA).
Does home ownership (HOUSECL: 1 = Own, 2 = Not) affect how much is spent on food away from home (FOODAWAY)? Perform a statistical analysis to determine whether there is enough evidence to infer that middle-class home owners spend less on food away than do middleclass households who rent.
Capital punishment for murderers exists in most U.S. states. However, a few states ban this form of punishment. Politicians often need to know which members of the public support and which oppose. Can we conclude from the data that there is a difference between Democrats, Republicans, and
Estimate the number of men (SEX: 1 = Male) who work for themselves (WRKSLF: 1 = Self-employed).
How much education (EDUC) do Democrats, Independents, and Republicans have (PARTYID3: 1 = Democrat, 2 = Independent, 3 = Republican)? Are they about the same or do they differ? Conduct a test to answer the question.
Do jobs in the public sector require more education (EDUC) than the ones in the private sector (WRKGOVT: 1 = Government, 2 = Private)? Conduct a test to answer the question.
Did the after effects of the recession that began in 2008 end in 2012? One way to judge is to determine how secure the jobs of workers were. Estimate the number of people who believed that it is very likely that they will lose their job or be laid off (JOBLOSE: 1 = Very likely).
The survey asked respondents the following question. “Should government improve standard of living of poor people?” The responses were HELPPOOR: 1 = Government act; 2, 3, 4, 5 = People should help themselves. Is there sufficient evidence to conclude that the five categories of educational
The survey asked respondents, “Taking all things together, how would you describe your marriage? Is there enough evidence to conclude that more than half of all marriages are very happy (HAPMAR: 1 = Very happy)?
Estimate the number of women who have never married (SEX: 2 = Female) and MARITAL: 5 = Never married).
Are Americans optimistic that their children will do better financially than themselves? The survey asked respondents, “When your children are at your age will their standard of living be…. Can we infer that the majority of Americans believe that their children will do better than themselves
Respondents were asked the following question. “Does Earth go around the Sun or does the Sun go around Earth (EARTHSUN: 1 = Earth around Sun, 2 = Sun around Earth, 8 = Don’t know, 9 = No answer)? The correct answer: Earth around Sun. Is there sufficient evidence to infer that Republicans get
It seems obvious that political persuasion affects beliefs about what the government can and cannot do. However, do the data support this belief? Is there enough statistical evidence to infer that differences exist between the three political groups (PARTYID3: 1 = Democrat, 2 = Independent, 3 =
The survey asked respondents to classify their occupation. Can we infer that male heads (HHSEX: 1 = Male, 2 = Female) of households are more likely than their female counterparts to work as a manager or professional (OCCAT2: 1 = Managerial/professional)?
Are male heads (HHSEX: 1 = Male, 2 = Female) of households more likely to own his home than female heads of households (HOUSECL: 1 = Own)? Conduct a test to answer the question.
Because of different incomes there may be substantial differences in net worth (NETWORTH) between male and female (HHSEX: 1 = male, 2 = female) heads of middleclass households. Conduct a test to determine whether male heads of middle-class households have higher net worth than female heads of
Because credit card companies charge very high interest for carrying debts most households attempt to pay off their credit card balances quickly. Estimate the number of people who carry a balance on credit cards (NOCCBAL: 1).
The upper class in the 2010 survey had a household net worth between $1,345,975 and $7,402,095. Where do members of the upper class invest their money? Estimate the mean value of financial assets held by the household (FIN).
The labor force participation rate is a better indicator of the economy than the unemployment rate. The latter excludes people who may want a job but have been discouraged by their lack of success and stopped looking for work. Estimate the number of Americans who are not working (LF: 0).
Are Americans becoming more educated? One way to measure is to count the number of household heads who have college degrees. Estimate the number of people who have a college degree (EDCL: 4 = college degree).
The middle class in the 2010 Survey of Consumer Finances had a net worth of between $61,215 and $270,603. In 2010, the average amount spent on food away from home was $2505 (Source: Bureau of Labor Statistics). Is there enough evidence to infer that the average middle-class household spent less
It is possible to have a high net worth of more than $1,345,975 without earning a high income. However, we would expect upper class households to earn high income in a variety of ways. Estimate the mean income of upper class households (INCOME).
One measure of financial success is net worth (NETWORTH), which is the difference between assets and liabilities. If net worth is affected by education then there should be statistical evidence to infer that net worth differs between households whose heads are in one of these categories: EDCL 1 =
How does the level of educational attainment affect attitudes about the role of government? Is there sufficient evidence to conclude that there are differences between the five categories of educational attainment (DEGREE: 0 = Left high school, 1 = High school, 2 = Junior college, 3 = Bachelor’s
Is there enough evidence to conclude that Republicans are more likely than Democrats (PARTYID3: 1 = Democrat, 3 = Republican) to answer the following question correctly. A doctor tells a couple that there is one chance in four that their child will have an inherited disease. Does this mean that
Is it still true that men earn more than women (SEX: 1 = male, 2 = female)? Conduct a test to determine whether there is enough statistical evidence to conclude that men earn more than women (RINCOME).
Surveys around the world often try to measure the happiness of the residents of each country. Americans are typically near the middle. The General Social Survey asked respondents “Taken altogether, how would you say things are these days would you say you were (HAPPY) 1 = Very happy, 2 = Pretty
The survey asked respondents about the federal tax they pay. Estimate the number of American adults who believe that their tax is too low (TAX: 1 = Too high, 2 = About right, 3 = Too low).
Is it true that as we grow older we become more conservative? If so, there would be differences in age (AGE) between the three political groups (PARTYID3: 1 = Democrat, 2 = Independent, 3 = Republican). Do the data allow us to conclude that there are differences?
In the past, government jobs had only one major advantage over private sector jobs, job security. Private sector jobs usually paid better. But now most government jobs are secure and pay better than similar work in the private sector. Estimate the number of Americans who work for the government
The image of the public sector worker is one who doesn’t work very hard (WRKGOVT: 1 = government, 2 = private). Is this image valid? Conduct a test to determine whether there is enough evidence to infer that public sector workers and private sector workers differ in the number of hours of work
Americans are postponing marriage and starting families. Does this mean that families are having fewer children? Estimate with 95% confidence the average number of children per family (CHILDS).
In many countries, each succeeding generation does better financially than their predecessors. The survey asked respondents the following question. “Compared to your parents at your age is your standard of living (PARSOL) 1 = Much better, 2 = Somewhat better, 3 = About the same, 4 = Somewhat
What other differences are there among liberals, moderates, and conservatives (POLVIEWS3: 1 = Liberal, 2 = Moderate, 3 = Conservative)? For example, is there sufficient statistical evidence to conclude that there are differences in income (RINCOME)?
Are male heads of households more likely than female heads (HHSEX: 1 = Male, 2 = Female) of households to be self-employed (OCCAT1: 2 = Self-employed)? Conduct a statistical test to answer the question.
Is there enough statistical evidence to infer that female heads of households (HHSEX: 1 = Male, 2 = Female) are less likely to have completed a college degree than their male counterparts (EDCL: 4 = College degree)?
Estimate the number of household heads who declared bankruptcy in the previous 5 years (BNKRUPLAST5: 1).
Do middle-class household heads with college degrees get more heavily into debt (DEBT) than those without college degrees (EDCL: 1 = No high school diploma, 2 = High school diploma, 3 = Some college, 4 = College degree)? Conduct a test to answer the question.
Because of immigration and birth rates there is a growing number of Hispanics in the United States. Estimate the number of Hispanic adults (21 and over) in the United States (RACE: 3 = Hispanic).
The middle class in the 2010 Survey of Consumer Finances had a net worth of between $61,215 and $270,603. In 2010, the average amount spent on food at home was $3624 (Source: Bureau of Labor Statistics). Is there enough evidence to infer that the average middle-class household spent more than that
High net worth households often have high expenses and large regular payments. Estimate the total value of monthly debt payments made by upper class households (TPAY).
In the United States, one of the most popular university programs is business administration. The result will be an increase in the number of people working as managers or professionals. Estimate the number of people working as managers or professional (OCCAT2: 1)
The upper class in the 2010 survey had a household net worth between $1,345,975 and $7,402,095. We would expect people in the upper class to have achieved this level of financial success to be somewhat older. Estimate the mean age of members of the upper class (AGE).
Numerous studies have shown that men make higher income (INCOME) than women (HHSEX: 1 = male, 2 = female). However, does this apply to male and female middle class heads of households? Test to determine whether there is enough evidence to conclude that male heads of middle-class households have
How well do public sector workers fare against private sector workers (WRKGOVT: 1 = Government, 2 = Private)? In particular, are they paid better than private sector workers (RINCOME). Conduct a test to answer the question. Conduct all tests at the 5% significance level. Use a 95% confidence level
In many college disciplines women outnumber men. Does that mean that women have more years of education than men (EDUC)? Conduct a test to answer the question (SEX: 1 = Male, 2 = Female).
The survey asked the following question. The center of the earth is very hot, true or false? Estimate the number of Americans who know the correct answer is 1 (HOTCORE: 1 = True, 2 = False, 8 = Don’t know, 9 = No answer).
The second amendment has been part of the political debate. Can we infer from the data that the majority of Americans support gun control (GUNLAW: 1 = Favor, 2 = Oppose)?
According to the U.S. Census in 2012 women made up 51.909% of the adult population. Is there enough evidence to conclude that women are over represented in the 2012 General Social Survey of 2012 (SEX: 1 = Male, 2 = Female)?
Television advertising depends on viewers. If there are fewer people watching television then advertisers will pay less for their television commercials. Estimate the average number of hours people are watching television (TVHOURS).
Every year the readership of newspapers declines. To measure the extent of the problem, the survey asked respondents, “Do you read newspapers?” Estimate the number of people who never read newspapers (NEWS: 5 = Never).
The United States like many other countries is aging. That is, each year the average age increases. Estimate the average age of American adults (AGE).
Although most high paying jobs require at least a university degree there are still many people who have not completed high school. Estimate the number of American men who did not complete high school (SEX: 1 = Male, DEGREE: 0 = Left high school).
The number of private sector employees who belong to unions has been steadily decreasing in the United States for decades. However, the number of government workers who belong to unions is growing. To determine the number, the survey asked whether the respondent and/or spouse belong to unions
Absenteeism is a serious employment problem in most countries. It is estimated that absenteeism reduces potential output by more than 10%. Two economists launched a research project to learn more about the problem. They randomly selected 100 organizations to participate in a 1-year study. For each
Profitable banks are ones that make good decisions on loan applications. Credit scoring is the statistical technique that helps banks make that decision. However, many branches overturn credit scoring recommendations, whereas other banks do not use the technique. In an attempt to determine the
Refer to Exercise 17.12 where the amount of time to unload a truck was analyzed. The manager realized that another variable, the time of day, may affect unloading time. He recorded the following codes: 1 = morning, 2 = early afternoon, and 3 = late afternoon.a. Run a regression using the codes for
Recall Exercise 16.6 where a statistics practitioner analyzed the relationship between the length of a commercial and viewers’ memory of the commercial’s product. However, in the experiment not only was the length varied but also the type of commercial. There were three types: humorous (1),
The manager of an amusement park would like to be able to predict daily attendance in order to develop more accurate plans about how much food to order and how many ride operators to hire. After some consideration, he decided that the following three factors are critical:Yesterday€™s
The manager of the food concession at a major league baseball stadium wanted to be able to predict the attendance of a game 24 hours in advance to prepare the correct amount of food for sale. He believed that the two most important factors were the home team’s winning percentage and the visiting
Refer to Exercise 17.14. The dean of the school of business wanted to improve the regression model, which was developed to describe the relationship between MBA program GPA and undergraduate GPA, GMAT score, and years of work experience. The dean now believes that an interaction effect may exist
A person starting a new job always takes a certain amount of time to adjust fully. In repetitive-task situations, such as on an assembly line, significant productivity gains can occur within a few days. In an experiment to study this phenomenon, the average amount of time required for a new
A fast-food restaurant chain whose menu features hamburgers and chicken sandwiches is about to add a fish sandwich to its menu. There was considerable debate among the executives about the likely demand and what the appropriate price should be. A recently hired economics graduate observed that the
The general manager of a supermarket chain believes that sales of a product are influenced by the amount of space the product is allotted on shelves. If true, this would have great significance, because the more profitable items could be given more shelf space. The manager realizes that sales
Graph y versus x1 for x2 = 2, 4, and 5 for each of the following equations.a. y = 0.5 + 1x1 − 0.7x2 − 1.2x21 + 1.5x22b. y = 0.5 + 1x1 − 0.7x2 − 1.2x21 1.5x22 + 2x1x2
Graph y versus x1 for x2 = 1, 2, and 3 for each of the following equations.a. y = 1 + 2x1 + 4x2b. y = 1 + 2x1 + 4x2 − x1x2
HELPSICK: Is it government’s responsibility to help pay for doctor and hospitalbills? (1 = Government should help, 2, 3, 4, 5 = People should help themselves.)The question of what should governments do and not do. For each question determine whether there is enough evidence to infer that
HELPNOT: Should government do more or less to solve country’s problems? (1 = Government should do more; 2, 3, 4, 5 = Government does too much.)The question of what should governments do and not do. For each question determine whether there is enough evidence to infer that individuals on the
Should government reduce income differences between rich and poor? (1 = Government should reduce differences; 2, 3, 4, 5, 6, 7 = No government action.)The question of what should governments do and not do. For this question determine whether there is enough evidence to infer that individuals
Do more educated individuals lean to the liberal end of the political philosophy spectrum? Conduct a test to determine whether there is enough evidence to conclude that as education (EDUC) increases the political philosophy score (POLVIEWS) decreases. Briefly describe what the p-value of the test
Is there sufficient evidence to conclude that as income (RINCOME) rises people grow more conservative (POLVIEWS)? What is the p-value?If we interpret the responses to POLVIEWS (1 = Extremely liberal, 2 = Liberal, 3 = Slightly liberal, 4 = Moderate, 5 = Slightly conservative, 6 = Conservative, 7 =
As people grow older do they become more conservative? If so, there should be a positive linear relationship between age (AGE) and political philosophy (POLVIEWS). Use an appropriate statistical procedure to determine whether there is enough evidence to infer that as people grow older they become
Discuss what assumption(s) is necessary to make the POLVIEWS spectrum responses an interval variable.If we interpret the responses to POLVIEWS (1 = Extremely liberal, 2 = Liberal, 3 = Slightly liberal, 4 = Moderate, 5 = Slightly conservative, 6 = Conservative, 7 = Extremely conservative) as an
You are given the following six points:a. Determine the regression equation.b. Use the regression equation to determine the predicted values of y.c. Use the predicted and actual values of y to calculate the residuals.d. Compute the standardized residuals. -2 -5 3 4 9 6. 15 y 4) 3.
Pick any 1 (or more) of the 11 exercises above and briefly describe why the prediction interval is so wide.
Pick any one of the previous five exercises and briefly describe why the intervals are so wide.

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Statistics For Management And Economics 11th Edition Gerald Keller - Solutions

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