Assignment 1 + Extra Credit

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Purdue University *

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30301

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Economics

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Feb 20, 2024

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Chapter 1 Exs.3 A) Average Tablet Cost: 582.90 B) Windows Average: 732.20 Android Average: 428.50 C) % of IT OAP CPUs : 20% D) % of Android: 40% Exs.19 A) The 2861 North American Subscribers B) Annual income is a quantitative variable C) Ownership of an American Express card is a categorical variable D) Cross-Sectional E) They can assume that about 60% of their North American subscribers make $75,000 or more and that half of their North American Subscribers have an American Express credit card Exs.24 A) This is a correct descriptive statistic for the sample B) This statement is too generalized due to that the sample is not the whole population C) This statistical inference is acceptable due to it being considered an estimate D) This statement is true for the sample but cannot be concluded for the population E) This statement is not supportable due to the possibility of the new 5 students to be outside the 65-90 range. Chapter 2 Exs.55 A) 1800 1820 1840 1860 1880 1900 1920 1940 1960 1980 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 Year Founded vs. Tuition & Fees B) There is a slight negative correlation between Year Founded and Tuition & Fees

Exs.56 A) 0 10 20 30 40 50 60 70 80 90 100 % Graduate VS. Tuition Fees B) There is a strong positive correlation between Graduation percentage and Tuitions & Fees Chapter 3 Exs.53 A) Median : 13.9 B) % of Top-50 Companies > S&P Average: 40% C) Min: -13.90 , Q1: 3.70 , Mean: 19.53 , Q3 : 30.00 , Max : 117.10 D) Outliers : 84.5, 117.1, 116.1 E)

Exs.57 A) 20.00 40.00 60.00 80.00 100.00 120.00 140.00 160.00 180.00 200.00 0.00 10.00 20.00 30.00 40.00 50.00 60.00 70.00 80.00 90.00 100.00 Apple and P&G Adjusted Stock Price Apple P&G B) The scatter pot displays a positive correlation between the adjusted Apple and P&G stock prices C) Sample Covariance : 169.84 , the large and positive covariance displayed within this data sample shows a strong positive linear relationship between the Apple and P&G stock prices. D) Sample Correlation Coefficient : 0.67 , we can conclude that there is a moderately strong positive correlation between Apple and P&G stock. Chapter 6 Exs. 11 A) P(z < or = -1.0) = 0.1587 B) P(z > or = -1.0) = 0.8413 C) P(z > or = -1.5) = 0.9332 D) P(-2.5 < or = z) = 0.9338 E) P(-3 < z < or = 0) = 0.4987 Exs. 39 A) P(x<20000) = 0.392 B) P(20000 < x < 30000) = 0.4710 C) Top 5% of wedding costs = (NORM.INV(0.95,29858,5600)) = 39069.19

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Extra Credit 1. A) Response biased can occur when a group of people being sampled respond to questions not entirely accurate or truthfully due to various reasons. I believe that response biased may be occurring within the Washing State Climate Change Results file because people are misinformed about climate change 2. A) Predicting that the Indiana Pacers will score exactly 108 points in their next game due to their mean being 108 is not the best predictor in my opinion. Though this will give a good range to try to guess, blatantly going of a relatively small sample size will not help someone predict a one game score. B) Some information that I would like to have to make such a prediction would be a basic record of the mean, the standard deviation for the first half of the year, their highs and lows of point scoring on the year and who they have played during the year. 3. Some critics I have about the graph regarding coaches’ salary is it does not account for the strength of schedule. Different sports could have various strength of schedules due to conference strength or independent scheduling. I feel like it should be accounted for when trying to gauge coaches on success rather than just straight wins. The graph also does not display a horizontal axis, making it tedious for the viewer to interpret a given coaches salary.

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