PS#2

docx

School

Boston University *

*We aren’t endorsed by this school

Course

203

Subject

Economics

Date

Feb 20, 2024

Type

docx

Pages

Uploaded by CountQuail70

Problem Set #2 10) JacketRatings. OutdoorGearLab is an organization that tests outdoor gear used for climbing, camping, mountaineering, and backpacking. Suppose that the following data show the ratings of hardshell jackets based on the breathability, durability, versatility, features, mobility, and weight of each jacket. The ratings range from 0 (lowest) to 100 (highest). a) Compute the mean, median, and mode. | Summary of Rating Rating | Mean Std. dev. Freq. ------------+------------------------------------ 42 | 42 0 1 53 | 53 0 1 54 | 54 0 1 61 | 61 0 3 62 | 62 0 1 63 | 63 0 1 64 | 64 0 1 66 | 66 0 1 67 | 67 0 2 68 | 68 0 1 69 | 69 0 1 71 | 71 0 2 76 | 76 0 1 78 | 78 0 1 81 | 81 0 1 83 | 83 0 1 ------------+------------------------------------ Total | 65.9 9.7759102 20 b) Compute the first and third quartiles. Rating ------------------------------------------------------------- Percentiles Smallest 1% 42 42

5% 47.5 53 10% 53.5 54 Obs 20 25% 61 61 Sum of wgt. 20 50% 66.5 Mean 65.9 Largest Std. dev. 9.77591 75% 71 76 90% 79.5 78 Variance 95.56842 95% 82 81 Skewness -.3684763 99% 83 83 Kurtosis 3.317267 c) Compute and interpret the 90th percentile. 90% 79.5 78 90% are below or equal to 79.5. 28) VarattaSales. Varatta Enterprises sells industrial plumbing valves. The following table lists the annual sales amounts for the different salespeople in the organization for the most recent fiscal year. a) Compute the mean, variance, and standard deviation for these annual sales values. . summarize SalesAmount1000s Variable | Obs Mean Std. dev. Min Max -------------+--------------------------------------------------------- SalesA~1000s | 14 315.6429 115.9725 147 547 Sales Amount ($1000s) ------------------------------------------------------------- Percentiles Smallest 1% 147 147 5% 147 190 10% 190 194 Obs 14 25% 211 211 Sum of wgt. 14 50% 309.5 Mean 315.6429 Largest Std. dev. 115.9725 75% 410 410 90% 465 413 Variance 13449.63 95% 547 465 Skewness .3735451 99% 547 547 Kurtosis 2.283104

b) In the previous fiscal year, the average annual sales amount was $300,000 with a standard deviation of $95,000. Discuss any differences you observe between the annual sales amount in the most recent and previous fiscal years. 1. The mean sales amount in the most recent fiscal year is higher than that in the previous fiscal year, indicating an increase in the average sales. 2. The standard deviation in the most recent fiscal year is higher than that in the previous fiscal year. This suggests greater variability or dispersion in sales amounts in the current year. 3. The variance in the most recent fiscal year is much higher than the calculated variance for the previous fiscal year, further emphasizing the increased variability in sales . 45) iPads. The New York Times reported that Apple has unveiled a new iPad marketed specifically to school districts for use by students (The New York Times website). The 9.7-inch iPads will have faster processors and a cheaper price point in an effort to take market share away from Google Chromebooks in public school districts. Suppose that the following data represent the percentages of students currently using Apple iPads for a sample of 18 U.S. public school districts. a) Compute the mean and median percentage of students currently using Apple iPads. Variable | Obs Mean Std. dev. Min Max -------------+--------------------------------------------------------- A | 18 24.66667 11.86691 12 64 b) Compare the first and third quartiles for these data . summarize A, detail 25% 18 18 75% 26 27 The first quartile (Q1) is 18, which means that 25% of the data points fall below or equal to 18. The third quartile (Q3) is 26, indicating that 75% of the data points fall below or equal to 26. c) Compute the range and interquartile range for these data. Variable | Obs Mean Std. dev . Min Max -------------+--------------------------------------------------------- A | 18 24.66667 11.86691 12 64 d) Compute the variance and standard deviation for these data. Std. dev. 11.86691 Variance 140.8235 e) Are there any outliers in these data?

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

no f) Based on your calculated values, what can we say about the percentage of students using iPads in public school districts? We can say that not that lot of students in public schools are using ipad. 57) StockComparison. The file StockComparison contains monthly adjusted stock prices for technology company Apple, Inc., and consumer-goods company Procter & Gamble (P&G) from 2013–2018. a) Develop a scatter diagram with Apple stock price on the horizontal axis and P&G stock price on the vertical axis. 65.00 70.00 75.00 80.00 85.00 90.00 50.00 100.00 150.00 200.00 Apple Adjusted Stock Price b) What appears to be the relationship between these two stock prices? The variable is scattered randomly and it is hard to analyze the relationship between two stock prices. c) Compute and interpret the sample covariance. AppleAdjus~e | 1236.62 PGAdjusted~e | 169.84 51.7162 A positive covariance 51.7162 indicates that as the "Apple Adjusted Stock Price" tends to be above its mean, the "P&G Adjusted Stock Price" also tends to be above its mean. d) Compute the sample correlation coefficient. What does this value indicate about the relationship between the stock price of Apple and the stock price of P&G? 0.6716is positive, indicating a positive linear relationship between the stock prices of Apple and P&G. The value 0.6716 suggests a moderately strong positive correlation. As r is between 0.5 and 1, it indicates that as the Apple stock price increases, there is a tendency for the P&G stock price to also increase. AppleAdjus~e | 1.0000 PGAdjusted~e | 0.6716 1.0000

61) BestPrivateColleges. A random sample of 30 colleges from Kiplinger’s list of the best values in private college provided the data shown in the file BestPrivateColleges (Kiplinger website). The variable named Admit Rate (%) shows the percentage of students that applied to the college and were admitted, and the variable named 4-yr Grad. Rate (%) shows the percentage of students that were admitted and graduated in four years. a) Develop a scatter diagram with Admit Rate (%) as the independent variable. What does the scatter diagram indicate about the relationship between the two variables? 0 20 40 60 80 50 60 70 80 90 4-yr Grad. Rate (%) As the admit rate goes up, the 4 year graduation rate tends to go down. b)Compute the sample correlation coefficient. What does the value of the sample correlation coefficient indicate about the relationship between the Admit Rate (%) and the 4-yr Grad. Rate (%)? | AdmitR~e yrGrad~e -------------+------------------ AdmitRate | 1.0000 yrGradRate | -0.7604 1.0000 The negative sample correlation coefficient of −0.7604 suggests a strong inverse relationship between the "Admit Rate (%)" and "4-yr Grad. Rate (%)". This could imply that schools with lower admission rates tend to have higher 4-year graduation rates.

Related Documents

Case Study 1 Page 2.png

Additional questions

Practice exer Ch 4 (BECN 150 (st) F-23 .docx

HW 10 (1).xlsx

Week 5 ~ Exam 1 on 12, & 14 (Answers).pdf

Practice exercise.docx

PubH 6466 - PS1 - questions.docx

MAT 240 Module 3 Assignment .docx

Problem Set 3.docx

MAT 240 Module 7 Assignment .docx

Midwest Shocks Excel Spreadsheet final.xlsx

DDBF1FDF-E647-488E-98AC-008B61BB68DC.png

Recommended textbooks for you

Managerial Economics: A Problem Solving Approach

Economics

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Cengage Learning

Microeconomic Theory

Economics

ISBN:9781337517942

Author:NICHOLSON

Publisher:Cengage

Managerial Economics: Applications, Strategies an...

Economics

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:Cengage Learning

MACROECONOMICS FOR TODAY

Economics

ISBN:9781337613057

Author:Tucker

Publisher:CENGAGE L

Micro Economics For Today

Economics

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Cengage,

Economics For Today

Economics

ISBN:9781337613040

Author:Tucker

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Microeconomic Theory
Economics
ISBN:9781337517942
Author:NICHOLSON
Publisher:Cengage
Managerial Economics: Applications, Strategies an...
Economics
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:Cengage Learning
MACROECONOMICS FOR TODAY
Economics
ISBN:9781337613057
Author:Tucker
Publisher:CENGAGE L
Micro Economics For Today
Economics
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Cengage,
Economics For Today
Economics
ISBN:9781337613040
Author:Tucker
Publisher:Cengage Learning