4. The City of Los Angeles wishes to estimate the average annual income of its residents. They are considering two methods of sampling. For each method: 1) state whether it is subject to selection bias (Yes or No) and explain why; 2) state whether it is subject to non-response bias (Yes or No) and explain why; and 3) explain the likely direction of the bias (upward or downward) based on your answers to parts 1) and 2). a) The city will survey 200 people outside of the Staples Center before a Los Angeles Lakers basketball game. b) The city will visit a randomly selected sample of 200 houses and apartments during regular business hours (Monday – Friday between 9 AM and 5 PM) and survey the residents. c) Now propose a sampling method of your own that you think will generate a more accurate estimate of the average income of residents. Explain in detail what you would do and why you think it will be less biased.

4. The City of Los Angeles wishes to estimate the average annual income of its residents. They are considering two methods of sampling. For each method: 1) state whether it is subject to selection bias (Yes or No) and explain why; 2) state whether it is subject to non-response bias (Yes or No) and explain why; and 3) explain the likely direction of the bias (upward or downward) based on your answers to parts 1) and 2). a) The city will survey 200 people outside of the Staples Center before a Los Angeles Lakers basketball game. b) The city will visit a randomly selected sample of 200 houses and apartments during regular business hours (Monday – Friday between 9 AM and 5 PM) and survey the residents. c) Now propose a sampling method of your own that you think will generate a more accurate estimate of the average income of residents. Explain in detail what you would do and why you think it will be less biased.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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===>Please give me a proper explanation correct and incorrect answer otherwise i give downvote Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
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