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

How does one get to be in this class whose minimum household net worth is about $9.5 million. Could this be achieved through high income alone? Examine this issue by estimating the mean annual income of wealthy households (INCOME).
Do wealthy households have late payments? Estimate the proportion of wealthy households that had at least one late payment in the previous year (LATE: 1).
Net worth is defined as the difference between total assets and total liabilities including debt. Does high net worth mean that these households have little or no debt?a. Answer the question by estimating the mean debt of all wealthy households (DEBT).b. Is the required condition satisfied? Explain.
Checking accounts are often used for household expenditures. Because they pay no interest, most households including wealthy ones keep a minimum amount in these accounts.a. Estimate the mean total value of checking accounts held by wealthy households (CHECKING).b. Is the required condition
Is it true that an apple a day keeps the doctor away? A study designed and conducted by the National Health and Nutrition Examination Study (results published in the Journal of the American Medical Association) considered 8,399 American adults of whom 756 reported that they ate a small apple a day.
Michigan State’s Collegiate Employment Research Institute collected data from mid-August to mid-September, tapping the employment offices at 200 schools, which gathered tarting salary data from 3,300 employers. The starting salaries for a random sample of electrical engineers and the
Does drinking hot chocolate boost the memory in older people? A random sample of people around the age of 73 was recruited. All had some form of cognitive deterioration. Half the participants drank two cups of hot chocolate a day for 30 days. Each was tested by solving puzzles that required working
Refer to Exercise 12.51. The researchers also recorded the number of missing teeth of a random sample of Britons. Can we infer that, in fact, Americans have more missing teeth?
Researchers at the University of California, San Diego conducted an experiment that studied the sleep of 164 American adults. The researchers used a device called a polysomnography machine to document slow-wave sleep, which is thought to be the most restorative period of sleep very important to
How does exercise affect memory in older adults with mild cognitive impairment? A study published in the Journal of Aging Research asked a random sample of women aged 70–80 with subjective memory complaints to exercise twice a week for six months. At the end of the study all were given a test
Refer to Exercise 13.49. The NCPA conducted another study, this one on alcohol. They randomly sample low-income and middle-income alcohol drinkers and determined how much each spends annually on alcoholic drinks. Can we infer that low-income alcoholic drinkers spend more than middle-income?
Which Canadians give the most to charity? A Statistics Canada study took random samples of men and women and recorded the amount donated to charity in the previous year. Is there sufficient evidence to infer that there are differences between the two sexes?
Are Canadian public servants gaming the system by taking more sick days than do private sector workers? To answer the question Statistics Canada took a random sample of white-collar private sector workers and recorded the number of sick days each took in the previous 12 months. Is there
Refer to Exercise 13.52. The data for public servants’ sick days 5 years ago was also recorded. Is there sufficient evidence to conclude that there are more sick days this year than 5 years ago? Use a 5% significance level for all tests. Use a 95% confidence level for all estimates.In exercise
Estimate the difference in total household debt between self-employed (OCCAT1: 1 = someone else, 2 = self-employed/partnership) and heads of households who work for someone else (DEBT).
Should government improve standard of living of poor people (HELPPOOR: 1 = Government act; 2, 3, 4, 5 = People should help themselves)?
Should government reduce income differences between rich and poor EQWLTH: 1 = Government should reduce differences; 2, 3, 4, 5, 6, 7 = No government action)?
Do educated people work longer or shorter hours than do less-educated individuals? Conduct a test to determine whether there is enough evidence to conclude that differences exist in the number of hours per week (HRS1) between the five groups of educational attainment (DEGREE: 0 = Left high school,
The survey asked, “Is it government’s responsibility to help pay for doctor and hospital bills (HELPSICK: 1 = Government should help; 2, 3, 4, 5 = People should help themselves)? Is there enough evidence to conclude that differences exist among some or all of the seven groups?
Can we infer from the data that there are differences between the seven political viewpoints in their answer to the question? “Should government do more or less to solve country’s problems (HELPNOT: 1 = Government should do more; 2, 3, 4,5 = Government does too much)? 14.37 The survey asked,
The survey asked, “Should government improve standard of living of poor people (HELPPOOR: 1 = Government act; 2, 3, 4, 5 = People should help themselves)?” Is there enough statistical evidence to conclude that some or all of the seven groups differ in their responses to this question?
Is there enough evidence to infer that there are differences between the seven political viewpoints in their answers to the question. “Should government reduce income differences between rich and poor (EQWLTH: 1 = Government should reduce differences; 2, 3, 4, 5, 6, 7 = No government action)?
Is it true that younger Americans tend to be liberal and older Americans more conservative? To help discover the truth, start by determining whether there is enough statistical evidence to conclude that there are differences in age (AGE) among the seven political viewpoints.
Managing debt properly requires skill and education.a. Conduct a test to determine whether there is enough evidence to conclude that heads of households who did finish high school (EDCL: 1 = no high school diploma, 2 = high school diploma) have more debt than those who did not finish high school
Estimate the difference in income between heads of households who did finish high school (EDCL: 1 = no high school diploma, 2 = high school diploma) and those who did not (INCOME).
Is there sufficient evidence to infer that there are differences in total unrealized capital gains (KGTOTAL) between heads of households who finished high school and those who did not (EDCL:1 = No high school diploma, 2 = High school diploma)?
Estimate the difference in net worth(NETWORTH) between households whose heads have completed a college degree and heads with some college only (EDCL: 3 = some college, 4 = college degree)
Estimate how much greater income (INCOME) is earned in households whose heads completed college (EDCL: 3 = some college, 4 = college degree) when compared to heads who only have some college.
Do college graduates have smaller unrealized capital gains (KGTOTAL) in theirhouseholds than do households with only some college (EDCL: 3 = some college, 4 = college degree)? Conduct a test to answer the question.
Is there enough evidence to infer that heads of households who finish high school (EDCL: 1 = no high school diploma, 2 = high school diploma) have greater net worth than those who did not complete high school (NETWORTH)?
Do people who completed a college degree fare better financially than those who started college but never finished? One way to judge financial success is by measuring ssets. Is there enough evidence to conclude that heads of households with college degrees (EDCL: 3 = some college, 4 = college
Is there enough evidence to conclude that households whose heads have some college (EDCL: 3 = some college, 4 = college degree) have less debt (DEBT) than households whose heads completed a college degree?
Discuss why the experiment in Example 13.5 produced a significant test result whereas the one in Exercise 13.103 did not.
The survey asks for total family income and respondents’ income. The difference between them is the amount earned by the members of the respondent’s family. Estimate with 95% confidence the mean income of the other members of the respondent’s family (INCOME: total family income; RINCOME:
Do most two-income families try to have both spouses work the same number of hours? To answer the question conduct a test to determine whether there is sufficient evidence to infer that the respondent and his or her spouse differ in the number of hours per week of work (HRS1 and SPHRS1)?
In terms of income, do heads of middle class households consider this to be a worse year than normal? Conduct a test to answer the question (INCOME = household; NORMINC = household normal income).
Capital gains can be produced in a number of ways. Most homeowners have unrealized capital gains on the homes. Estimate with 95% confidence the mean amount of allcapital gains except the home (KGHOUSE = unrealized capital gains on the primary residence; KGTOTAL = total unrealized capital
There are advantages and disadvantages to working for one’s self. The advantages are that the rewards can be substantial. However it is also possible to have nothing to show for a lot of work. In theory the variation in income for self-employed individuals is greater than the variation in income
Most people who work for someone else are likely to have a set number of hours that does not vary. In most cases this will be around 40 hours per week. Self-employed people do not have the luxury of having a limit on the hours they work. As a result we would expect that the hours worked by the
The financial rewards for self-employment can be considerable. The downside may be that one works long hours accruing debts with little or no financial return. As a result we theorize that the variance in compensation will be greater for the self-employed (OCCAT1: 1 = work for someone else, 2 =
Refer to Exercise 13.123. Is there enough evidence to conclude that the variation in net worth is greater for the self-employed than for employees (NETWORTH)?In exercise 13.123The financial rewards for self-employment can be considerable. The downside may be that one works long hours accruing debts
Refer to Exercise 13.123. Is there more variation in the amount of debt of the self-employed than for employees (DEBT)?In exercise 13.123The financial rewards for self-employment can be considerable. The downside may be that one works long hours accruing debts with little or no financial return. As
Refer to Exercise 13.123. Do the data allow us to conclude that there is more variation in total capital gains (KGTOTAL) for self-employed individuals than for employees?In exercise 13.123The financial rewards for self-employment can be considerable. The downside may be that one works long hours
Gender Experiment 1Is there sufficient evidence to infer that drivers behind a male driver are more likely to honk? Lead car driver was female Lead car driver was male Honked horn Did not honk horn 47 136 64 123
An experiment conducted by members of the Religious Affiliation and Hiring Discrimination Organization to determine what shouldn’t be in the resume should be of interest to students preparing resumes in search of summer or permanent jobs. The experiment consisted of submitting 6400 resumes to
Refer to Exercise 13.156. In 2700 of the resumes the religion mentioned was one of the mainstream religions. However, 500 resumes made reference to a made-up religion – Wallonian. The religious designation (1 = mainstream religion, 2 = Wallonian) was recorded. Is there sufficient evidence to
To measure the cardiovascular health of Canadians, cardiologists developed the Cardiovascular Health in Ambulatory Care Research Team (CANHEART) health index. A score of 1 is assigned for each of the following cardiovascular health factors and behaviors:1Do not smokePhysical activity equivalent to
Most televised baseball games display a pitch tracker that shows whether the pitch was a ball or a strike, which in turn shows whether the umpire made the correct call. Suppose a fan kept track of a random sample of calls made by two of the more experienced umpires. In this exercise he tracked
Refer to Exercise 13.159. The fan also recorded the calls on pitches that were in the strike zone and the batter did not swing (1 = ball, 2 = strike). Can we infer from the data that there is a difference in the error rate of making calls on pitches in the strike zone between the two umpires?In
In June 2016 the United Kingdom voted to leave the European Union. As is the case in the United States, pollsters conducted exit polls and asked how each respondent voted (1 = remain, 2 = leave) and recorded the age category (1 = 18 – 24, 2 = 25 – 49, 3 = 50 – 64 0, 4 = 65 and older).a. Is
Surveys of workers asked a series of questions from which each was categorized as either 1 = thriving, 2 = struggling, 3 = suffering. Each respondent was also asked whether they worked for the federal government or a private sector employer. Is there sufficient evidence to infer that government
A Gallup survey asks a random sample of American adults this question. “In this country, are you satisfied or dissatisfied with your freedom to choose what you do with your life?” The responses are 1 = satisfied, 2 = dissatisfied. The survey results from this year and one 5 years ago were
A generation ago men were more likely to attend university and acquire a graduate degree than women. However, women now appear to be attending university in greater numbers than men. To gauge the extent of the difference, test to determine whether men and women (SEX: 1 = Male, 2 = Female) differ in
Is there sufficient evidence to conclude that foreign-born people (BORN: 1 = In the United States, 2 = Elsewhere) are more likely to have a graduate degree (DEGREE: 4 = Graduate) than people born in the United States?
Is there a difference between men and women in their preference for working for some government agency? Conduct a test to determine whether there is enough evidence to infer that women (SEX: 1 = Male, 2 = Female) are more likely to work for the government (WRKGOVT: 1 = Government) than men?
Can we infer from the data that Democrats (PARTYID3: 1 = Democrat; 3 = Republican) are more likely to work for the government (WRKGOVT: 1 = Government, 2 = Private enterprise)?
Is working full time and earning more money than part time workers the prime reason why some people are Republicans. This raises the question, Is there sufficient evidence to conclude that Republicans (PARTYID3: 1 = Democrat, 3 = Republican) are more likely to be working full time (WRKSTAT: 1 =
In theory, Republicans are more supportive of free enterprise. Do the data allow us to infer that Republicans (PARTYID3 1 = Democrat, 3 = Republican) are more likely to work for themselves (WRKSLF: 1 = Work for themselves, 2 = Other) than Democrats?
Are married people more likely to be working full time (WRKSTAT: 1 = Full time,)? Conduct a test to determine whether there are differences between married and never married (MARITAL: 1 = Married, 5 = Never married) American adults.
Half a century ago men were far more likely to be the breadwinner and women were far more likely to be homemakers. There are now many households where women are the breadwinners and many households where both work outside the home. Is there a difference in the proportion of men and women (SEX: 1 =
Can we infer from the data that married and never married people (MARITAL: 1 = Married, 5 = Never married) differ in their completion of a graduate degree (DEGREE: 4 = Graduate degree)?
It is generally understood that working for the government means more job security than working for private enterprise. Are married people (MARITAL: 1 = Married, 5 = Never married) more likely to work for the government (WRKGOVT: 1 = Government) than do never married people?
Many studies show that women are more likely to have a college degree than men. However, does this apply to female and male heads (HHSEX: 1 = male, 2 = female) of households? Is there enough evidence to conclude that male heads of households are more likely to have a college degree than female
If male heads of households (HHSEX: 1 = male, 2 = female) are more likely to have a college degree does it follow that they have ahigher employment rate (LF: 1 = Working in some way)? Conduct a test to answer the question.
Is there sufficient evidence to conclude that male heads of households (HHSEX: 1 = male, 2 = female) are more likely to own the home they live in (HOUSECL: 1 = Owns)?
Is there enough statistical evidence to infer that male heads of households (HHSEX: 1 = male, 2 = female) are more likely to be married (or living with partner) than female heads of households (MARRIED: 1 = Married or living with partner)?
What conclusions can you draw from the results of the four previous exercises?
Are married heads of households (MARRIED: 1 =married or living with partner, 2 = not married or living with partner) more likely to have a college degree (EDCL: 4 = College degree)? Conduct a test to answer the question.
With marriage comes financial responsibilities. If so, we would expect married heads of households (MARRIED: 1 = married or living with partner, 2 = not married or living with partner) to be less likely to be unemployed (LF: 0 = Not working). Is there sufficient evidence to support this expectation?
Is there enough evidence to infer that married heads of households (MARRIED: 1 =married or living with partner, 2 = not married or living with partner) are more likely to be self-employed (OCCAT1: 2 = Self-employed/ partnership)?
Are married heads of households (MARRIED: 1 =married or living with partner, 2 = not married or living with partner) less likely to have declared bankruptcy in the last five years? Conduct a test to answer the question (BNKRUPLAST5: 1 = Yes). The following exercises require the use of a computer
After observing the results of the test in Exercise 13.211, a statistics practitioner organized another experiment. People were matched according to gender, height, and weight. One member of each matched pair then exercised vigorously twice a week and the other member exercised moderately four
Personal spending is usually an indicator of the health of the overall economy. An increase tends to indicate that consumers are optimistic; a decrease indicates pessimism. Gallup tracks the spending of a random sample of American adults. The results for this month and last month were recorded. Do
There are currently 121,678 people waiting for lifesaving organ transplants in the United States. Of these, 100,791 await kidney transplants. (as of January 2016). The median wait time for an individual’s first kidney transplant is 3.6 years and can vary depending on health, compatibility, and
Many small retailers advertise in their neighborhoods by sending out flyers. People deliver these to homes and are paid according to the number of flyers delivered. Each deliverer is given several streets whose homes become their responsibility. One of the ways retailers use to check the
During difficult economic times governments stimulate the economy to reduce the unemployment rate. Governments do this by hiring more workers. Did this process take place between 2008 and 2014? Conduct a test to determine whether there is enough evidence to conclude that the fraction of Americans
Men are often accused of being couch potatoes by spending too much time watching television. However, do men watch more TV than women (SEX: 1 = Male, 2 = Female)?a. Conduct a test to answer the question (TVHOURS).b. Are the required conditions satisfied? Explain.c. If the required conditions are
The United States has one of the highest rates of post-secondary education. However, is the rate increasing? Can we infer from the data that the Americans were more educated (EDUC) in 2014 than they were in 2012?
The amount of money television networks charge the advertisers is very much dependent on how many people see the commercials. Thus, any decrease in viewers is a problem. Is there a downward trend in viewers? Were American adults watching less television (TVHOURS) in 2014 than they did in 2012?
Judging from rising enrollments there are more people attending colleges and niversities. However, does this include students going on their masters and doctoral degrees? Is there enough statistical evidence to conclude that the percentage of American adults with graduate degrees (DEGREE = 4)
One measure of the health of the economy is the number of hours of work. Using this gauge can we conclude that the economy improved between 2010 and 2014? That is, can we conclude that Americans were working longer hours (HRS1) in 2014 than they did in 2010?
The fertility rate among Americans is falling. A rate of 2.1 children for each woman is needed to keep populations stable. As societies become more affluent, families tend to be smaller. Does this mean that immigrants (BORN: 1 = In the United States, 2 = Elsewhere) will have more children
Estimate with 95% confidence the difference in income (RINCOME) between 2014 and 2012.
Do you need more education (EDUC) to be self-employed (WRKSLF: 1 = Self-employed, 2 = Someone else)?a. Conduct a test to answer the question.b. Are the required conditions satisfied?
With a declining birth rate and increasing longevity most countries are aging. The consequences are serious. Aging societies mean that there will be fewer taxpayers supporting an increasing population of retirees. Because older people require more medical care the cost of health care will increase
If the number of children per family is decreasing is it because families are postponing the start of a family?a. Conduct a test to determine if the age at which families have their first child has increased between 2004 and 2014 (AGEKDBRN).b. Check the required conditions.
If people who work for someone else have more assets and greater net worth than self-employed people (OCCAT1: 1 = someone else, 2 = self-employed/partnership) we would expect them to have larger unrealized capital gains (KGTOTAL). Conduct a test to determine whether there is enough evidence to
As a general rule more education leads to more professional and financial success. Test to determine whether heads of households with a high school diploma (EDCL: 1 = no high school diploma, 2 = high school diploma) have more household assets than those who did not finish high school (ASSET)
Repeat Exercise 15.1 with the following frequencies:In exercise 15.1Consider a multinomial experiment involving n = 300 trials and k = 5 cells. The observed frequencies resulting from the experiment are shown in the accompanying table, and the null hypothesis to be tested is as follows:H0: p1 = .1,
Repeat Exercise 15.1 with the following frequencies:In exercise 15.1Consider a multinomial experiment involving n = 300 trials and k = 5 cells. The observed frequencies resulting from the experiment are shown in the accompanying table, and the null hypothesis to be tested is as follows:H0: p1 = .1,
Household has at least one late payment in the previous year (LATE: 0 = No, 1 = Yes).Examine the issue of race among middle-class households (RACE: 1 = White, non-Hispanic, 2 = Black/African American, 3 = Hispanic, 5 = Other). For each variable, test to determine whether there is sufficient
Is there sufficient evidence to infer that there are differences in marital status between people born in the United States and those born outside the United States (BORN: 1 = U.S., 2 = outside U.S.; MARITAL: Marital status: 1. Married, 2. Widowed, 3. Divorced, 4. Separated, 5. Never married)?
MARRIED: 1 = Married, 2 = Not married.The above question is based on the middle-class respondents of the 2013 survey. The above question addresses differences in educational attainment (EDCL Education category of head of household: 1 = No high school diploma, 2 = High school diploma, 3 = Some
Turned down for credit in the previous 5 years (TURN DOWN: 0 = No, 1 = Yes)The above question is based on the middle-class respondents of the 2013 survey. The above question addresses differences in educational attainment (EDCL Education category of head of household: 1 = No high school diploma, 2
Household has declared bankruptcy in the previous 5 years (BNKRUPTLAST5: 0 = No, 1 = Yes).The above question is based on the middle-class respondents of the 2013 survey. The above question addresses differences in educational attainment (EDCL Education category of head of household: 1 = No high
Household has debt (HDEBT: Household has any debt: 0 = No, 1 = Yes).The above question is based on the middle-class respondents of the 2013 survey. The above question addresses differences in educational attainment (EDCL Education category of head of household: 1 = No high school diploma, 2 = High
House ownership (HOUSECL: 1 = Owns, 2 = Does not own).Examine the issue of race among middle-class households (RACE: 1 = White, non-Hispanic, 2 = Black/African American, 3 = Hispanic, 5 = Other). For each variable, test to determine whether there is sufficient evidence to conclude that differences
Household has been turned down for credit in the previous 5 years (TURNDOWN: 0 = No, 1 = Yes).Examine the issue of race among middle-class households (RACE: 1 = White, non-Hispanic, 2 = Black/African American, 3 = Hispanic, 5 = Other). For each variable, test to determine whether there is
Household has declared bankruptcy in the previous 5 years (BNKRUPTLAST5: 0 = No, 1 = Yes).Examine the issue of race among middle-class households (RACE: 1 = White, non-Hispanic, 2 = Black/African American, 3 = Hispanic, 5 = Other). For each variable, test to determine whether there is sufficient
Household has incurred debt (HDEBT: Household has any debt: 0 = No, 1 = Yes).Examine the issue of race among middle-class households (RACE: 1 = White, non-Hispanic, 2 = Black/African American, 3 = Hispanic, 5 = Other). For each variable, test to determine whether there is sufficient evidence to

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

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