5. According to the Ameriprise Financial Money Across Generations study, 9 out of 10 parents with adult children ages 20 to 35 have helped their adult children with some type of financial assistance ranging from college, a car, rent, utilities, credit card debt, and/or down payments for houses. The following table with sample data consistent with the study 2IPage shows the number of times parents have given their adult children financial assistance to buy a car and to pay rent. Pay Rent Yes No Buy a car Yes 583 529 No 169 788 a. Develop a joint probability table and use it to answer the remaining questions. b. If parents did not provide financial assistance to buy a car, what it the probability that the parents assisted with paying rent? C. Is financial assistance to buy a car independent of financial assistance to pay rent? Use probabilities to justify your answer

5. According to the Ameriprise Financial Money Across Generations study, 9 out of 10 parents with adult children ages 20 to 35 have helped their adult children with some type of financial assistance ranging from college, a car, rent, utilities, credit card debt, and/or down payments for houses. The following table with sample data consistent with the study 2IPage shows the number of times parents have given their adult children financial assistance to buy a car and to pay rent. Pay Rent Yes No Buy a car Yes 583 529 No 169 788 a. Develop a joint probability table and use it to answer the remaining questions. b. If parents did not provide financial assistance to buy a car, what it the probability that the parents assisted with paying rent? C. Is financial assistance to buy a car independent of financial assistance to pay rent? Use probabilities to justify your answer

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A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Even before the “Ownership Society” programs of Presidents Clinton and Bush, the federal government was heavily involved in the housing market, primarily in the form of tax deductions for mortgage interest payments. In a study just prior to the foreclosure crisis starting in 2008, the Urban Institute stated about 80% of the estimated $200 billion of federal housing subsidies consisted of tax breaks (mainly deductions for mortgage interest payments). Samples indicated that federal housing benefits average $8,268 for those with incomes between $200,000 and $500,000 and only $365 for those with incomes of $40,000 to $50,000. The respective standard deviations were $2,100 and $150. They were obtained from sample sizes of 150. To determine the appropriate hypothesis test concerning the average federal housing benefits of the two income groups, it is necessary to determine if the population variances are equal. Conduct a test of hypothesis to this effect using a significance level of…
The North American Free Trade Agreement (NAFTA) enacted in 1994 is a trilateral trade agreement signed by the United States, Canada and Mexico. This trade agreement has been controversial since its inception and Americans remain split on the issue. In a Gallup Poll conducted February 1-5, 2017, 448 out of 973 randomly selected Americans aged 18 or older stated that they believed that NAFTA was bad for the United States. a. Find the point estimate for the proportion of Americans who believe that NAFTA was bad for the United States. Round your answer to 4 decimal places. b. Find the margin of error for a 95% confidence interval. Round your answer to 4 decimal places. c. Construct the 95% confidence interval for the proportion of Americans who believe that NAFTA was bad for the United States. Enter your answer as an open interval of the form (a,b) and round to 3 decimal places. d. Can you conclude that more than half of Americans believe that NAFTA was bad for the United States? No, the…
24. On-Time Arrivals. The Air Travel Consumer Report is a monthly product of the Department of Transportation's Office of Avi- ation Enforcement and Proceedings. The report is designed to assist consumers with information on the quality of services provided by the airlines. Following are the percentages of on-time arrivals for June 2013 by the 16 reporting airlines. 93.1 87.5 77.9 77.3 76.1 73.8 73.0 72.5 71.1 70.6 69.8 69.6 69.0 66.0 65.9 61.8 a. Identify the classes for grouping these data, using cutpoint group- ing with classes of equal width 5 and a first lower class cutpoint of 60. b. Identify the class midpoints of the classes found in part (a). c. Construct frequency and relative-frequency distributions of the data based on your classes from part (a). d. Draw a frequency histogram of the data based on your classes from part (a). e. Round each observation to the nearest whole number, and then construct a stem-and-leaf diagram with two lines per stem. f. Obtain the greatest…
1. State whether it will experimental or observational 2. If observational, identify which type specifically (retrospective cohort, prospective cohort, case-control, cross-sectional, ecological) 3. Briefly explain how you can tell what type of study it is. In 2010, we examined the medical records of 2,000 patients ages 53+ associated with Kaiser Permanente (large health care organization) who did NOT have kidney disease in 2005. Then, we look back in the records to see who took BZDs from 2000-2005. After that, we look to see who developed kidney disease from 2006 until 2008. We compared the rates of kidney disease among those who took the BZDs and those who didn’t.
A social worker in South Phoenix delivered an intervention on financial literacy. The program is six weeks long (one hour per week). She collected pre and post- test surveys in order to determine if participants’ knowledge on financial literacy increased due their involvement in the program. Review the table below and answer the following questions. Table 1. Financial literacy intervention change from pre to post test M SD t p Financial Literacy Knowledge 5.04 .001 Pre test 7.25 1.78 Post test 8.42 1.20 1. Was a dependent or independent t-test used to analyze the data? How do you know?
5. The overnight shipping business has skyrocketed in the last ten years. The single greatest predictor of a company's success is customer service. A study was conducted to determine the customer satisfaction levels for one overnight shipping business. In addition to the customer's satisfaction level, the customers were asked how often they used overnight shipping. The results are shown below in the following table: Satisfaction level Frequency of Use 5 per month TOTAL High 250 Low Medium TOTAL 400 140 10 5. 5. 55 200 140 100 25 70 20 700 220 460 A customer is chosen at random. Given that the customer uses the company two to five times per month, what is the probability that the customer expressed medium satisfaction with the company?
1. To understand the cooking and diet patterns of Americans, a research company surveyed 12,340 American adults (age 18 and older) during the year 2014 and asked about a variety of factors including age, gender, yearly income (in US $), and the number of hours spent cooking each week. Answer the following questions regarding the context of the survey: a. WHO is being measured? (What is the sample?) b. WHAT is being measured? (What are the variables?) For each variable, identify whether it is quantitative or categorical.
5. According to the Ameriprise Financial Money Across Generations study, 9 out of 10 parents with adult children ages 20 to 35 have helped their adult children with some type of financial assistance ranging from college, a car, rent, utilities, credit card debt, and/or down payments for houses. The following table with sample data consistent with the study 21Page shows the number of times parents have given their adult children financial assistance to buy a car and to pay rent. Pay Rent Yes No Buy a car Yes 583 529 No 169 788 a. Develop a joint probability table and use it to answer the remaining questions. If parents did not provide financial assistance to buy a car. what it the probability that the parents assisted with paying rent? cIs financial assistance to buy a car independent of financial assistance to pay rent? Use probabilities to justify your answer. b.
An employer is ready to give her employees a raise andis considering two plans. Plan A is to give each personan $8.00 per day increase. Plan B is to give each person a 10% increase. Data on the current pay of these employ-ees shows that the median pay is $80 per day with an interquartile range of $10. Which of the following datasets will have the same median?A) The current pay and Plan A onlyB) The current pay and Plan B onlyC) Plan A and Plan B onlyD) The current pay, Plan A, and Plan BE) None; the current pay, Plan A, and Plan B will allhave different medians.
An experiment was performed to attempt to answer the question of interest posed in Question 12. In the experiment, 48 Israeli college students were randomly assigned to eat in groups of six. Before ordering, half of the groups were told they would each be responsible for individual meal costs and the other half were told that the cost would be split equally among the six people at the table. The cost of meals per person was recorded. Summary statistics are given below: Payment Type Split Individual Bill Sample 24 24 size Sample $37.29 $50.92 mean Sample $12.54 $14.33 st. dev. Suppose a 95% confidence interval for usplit - Hindividual is constructed. What is the value of the best estimate of the difference in population means? (Subtract "split bill" – “pay - individually".) Report your answer to two decimal places. $
Chapter 5 In preparation for your discussion post, complete the following: • Research data on the U.S. uninsured population (https://aspe.hhs.gov/sites/default/files/private/pdf/265041/trends-in-the-us- uninsured.pdf B). • Choose one condition for your discussion post about an uninsured group. (For example, In 2019, 22% of Latine individuals under age 65 were uninsured, Figure 4 p.6). For your discussion board post include all of the following: 1. Suppose six individuals, within your criteria, are randomly selected. Show or explain your thinking for each problem. (Note: This is a binomial probability from Section 5.2, they either have insurance or they do not.) A. Let having insurance be a success. State the values of your p, q, and n for your chosen condition. Explain your thinking. (For my example, if 22% do not have insurance, then that is my q (failure) value, my p=0.78, q=0.22, n-6 (6 individuals are randomly selected in this problem). B. Use excel or a T184 to determine the…
4. Failure to meet payments on student loans guaranteed by the United States (U.S.) government has been a major problem for both banks and the government. Approximately 50% of all student loans guaranteed by the government are in default. A random sample of 350 loans to college students in one region of the U.S. indicates that 147 loans are in default. a) Do the data indicate that the proportion of student loans in default in this area of the country differs from the proportion of all student loans in the U.S. that are in default? Use α = 0.01. (iii) The p-value for the above problem is