Chapter 4 Homework

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University of Houston, Downtown *

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2307

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Economics

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Feb 20, 2024

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Chapter 4 Homework (1) What is the appropriate scale of measurement (Ch. 1, p. 14) for annual household income? Explain. Click here to enter text. (2) Is annual household income a categorical or quantitative variable (Chapter 1 Lecture Notes)? And if it’s quantitative, is it discrete or continuous (Ch. 1, p. 12)? Explain. Click here to enter text. (3) If we think of annual household income as an outcome variable, what are two possible predictor variables that could help us predict a family’s annual household income? (See Chapter 1 Lecture Notes about predictor and outcome variables) Click here to enter text. (4) If we think of annual household income as a predictor variable, what are two possible outcome variables that knowing a family’s annual household income could help us predict? Click here to enter text. (5) With Median/Guess/Show Percentages selected, how can you use the moveable blue line to find the (a) median, (b) first quartile (Q1), (c) third quartile (Q3)? Click here to enter text. (6) In the boxplot, what is depicted by each of the following: (a) left whisker, (b) right whisker, (c) each of the three vertical lines, Click here to enter text. (7) What are the values for the mean and median? Click here to enter text. (8) Based on what you’ve learned about the relative positions of the mean and median in a skewed distribution, is the distribution positively skewed or negatively skewed? Explain. Click here to enter text. (9) What is the standard deviation of the data set? Click here to enter text.

(10) To someone who has not taken statistics, how would you explain what the standard deviation tells us about this distribution (Chapter 1 Lecture Notes)? Click here to enter text. (11) What is the interquartile range (IQR) of this data set? Click here to enter text. (12) Explain what the IQR tells us about this distribution. Click here to enter text.

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Chapter 4 Homework

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