2.9 Time magazine, in an article in the late 1950s, stated that “the average Yaleman, class of 1924, makes $25,111 a year,” which, in today’s dollars, would be over $150,000. Time’s estimate was based on replies to a sample survey questionnaire mailed to those members of the Yale class of 1924 whose addresses were on file with the Yale administration in the late 1950s. What is the survey’s population of interest? Were the techniques used in selecting the sample likely to produce a sample that was representative of the population of interest? What are the possible sources of bias in the procedures used to obtain the sample? Based on the sources of bias, do you believe that Time’s estimate of the salary of a 1924 Yale graduate in the late 1950s is too high, too low, or nearly the correct value?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
2.9 Time magazine, in an article in the late 1950s, stated that “the average Yaleman, class of 1924, makes $25,111 a year,” which, in today’s dollars, would be over $150,000. Time’s estimate was based on replies to a sample survey questionnaire mailed to those members of the Yale class of 1924 whose addresses were on file with the Yale administration in the late 1950s.
- What is the survey’s population of interest?
- Were the techniques used in selecting the sample likely to produce a sample that was representative of the population of interest?
- What are the possible sources of bias in the procedures used to obtain the sample?
- Based on the sources of bias, do you believe that Time’s estimate of the salary of a 1924 Yale graduate in the late 1950s is too high, too low, or nearly the correct value?
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