A Brookings Institution report, “Are College Students Borrowing Blindly?”, suggests that undergraduate students may be confused about their debt. For example, among all first-year U.S. undergraduate students with federal loans, 28 percent said they didn’t have any federal at all. Let’s assume this is true for the population of undergraduate students who have federal loans and set up a simulation to randomly sample 100 students from this population. For each sample, we calculate the proportion of students who report having no federal debt. We’ll repeat this process 500 times. The dotplot of the 500 calculated proportions is displayed below. Akers, B and Chingos, M. M. (2014). Are College Students Borrowing Blindly? http://www.brookings.edu/research/reports/2014/12/10-borrowing-blindly-akers-chingos In the dotplot, what does a dot represent? One first-year undergraduate student with federal debt. One random sample of 100 first-year undergraduate students with federal debt. 500 random samples of 100 first-year undergraduate students with federal debt. The number of first-year undergraduate students that report having no federal debt.
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.
Student federal loans: A Brookings Institution report, “Are College Students Borrowing Blindly?”, suggests that undergraduate students may be confused about their debt. For example, among all first-year U.S. undergraduate students with federal loans, 28 percent said they didn’t have any federal at all. Let’s assume this is true for the population of undergraduate students who have federal loans and set up a simulation to randomly sample 100 students from this population. For each sample, we calculate the proportion of students who report having no federal debt. We’ll repeat this process 500 times. The dotplot of the 500 calculated proportions is displayed below.
Akers, B and Chingos, M. M. (2014). Are College Students Borrowing Blindly? http://www.brookings.edu/research/reports/2014/12/10-borrowing-blindly-akers-chingos
In the dotplot, what does a dot represent?
- One first-year undergraduate student with federal debt.
- One random sample of 100 first-year undergraduate students with federal debt.
- 500 random samples of 100 first-year undergraduate students with federal debt.
- The number of first-year undergraduate students that report having no federal debt.
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