EconomicsB2. Consider the ten-person income distributions of three countries A, B and Csummarised in the table below.DistributionA1£100 £250 £200 £300 £150 £500 £550 £400 £450 £350£310 £350 £510 £150 £390 £190 £270 £47O £230 £430£425 £535 £205 £480 £150 £370 £645 £590 £315 £26023457810Analyse and compare the three income distributions in terms of (1) first orderstochastic dominance, (2) Generalised Lorenz dominance, (3) relative Lorenzdominance and (4) absolute Lorenz dominance. Show your calculations and graphs.Explain your findings in detail.

In this task, we are presented with income distributions for three countries: A, B, and C. Each…

Answered: B2. Consider the ten-person income…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

House values in Martin, TN are known to have a distribution that is skewed to the right instead of being normally distributed. Assume that house values in Martin, TN have a mean of $64,500 with a standard deviation of $21,350. Answer the following probability questions concerning house values in Martin, TN. Part 1: If 1 randomly selected house in Martin, TN is selected, what is the probability that this house has a value under $60,000? Part 2: If 30 randomly selected houses in Martin, TN are selected, use the Central Limit Theorem to determine the probability that their average value is under $60,000?
(a) Use class intervals of $0 to <$3, $3 to <$6, $6 to <$9, etc., to create a relative frequency distribution for these data. (Round your answers for relative frequency to four decimal places.) Class Interval Frequency Relative Frequency $0 <$3 $3 <$6 $6 <$9 $9 <$12 $12- <$15 $15 <$18 $18 <$21 TOTAL (b) Construct a histogram. Frequency 14 12 10 8 6 4 Frequency 14 12 10 8 6 4 2 3 3 4 3 51 3 6 9 12 15 18 21 6 0.0588 9 0.0784 0.0588 12 15 18 21 Cost Cost Frequency 14 12 10 8 6 4 Frequency 15 10 5 3 6 9 3 6 9 12 15 18 21 12 15 18 Comment on its shape. O This is a unimodal distribution with a peak at the 0-3 class. The distribution is positively skewed. This is a bimodal distribution with peaks at the 12-15 and 18-21 classes. The distribution is negatively skewed. O This is a bimodal distribution with peaks at the 0-3 and 6-9 classes. The distribution is positively skewed. O This is a unimodal distribution with a peak at the 9-12 class. The distribution is reasonably symmetric. 21 Cost Cost…
Mariah Jacobsen is the marketing manager at ABC Electronics, a major consumer electronics supplier in the northwest. Over the last five years, sales of the company's flagship product - the Wizer Anonymizer (the WA) - have been 45000, 45500, 44500, 46000 and 44000 units. This rate of sales is considered average for the product over the last twenty years or so. Ms. Jacobsen believes that the distribution of the WA's sales is normal with a standard deviation of 1500 units. If she were asked to make a forecast of next year's sales to upper management, what is the likelihood that she would be correct if she predicts sales between 43000 and 46000?
A pharmaceutical company sells 78 different products. The distribution of last year's annual sales amounts is shown below. Number of Products 100 90 80 70 60 50 40 30 20 10 0 0 5, 17 30 137 50 175, 611 125 74 100 150 Annual Sales ($000) 200 200, 78 250 C What annual sales in the top 5.13%? A. 78 B. None of the above C. 125 D. 200 E. 74
2 9 11 11 13 14 14 15 15 16 16 17 17 18 18 18 18 19 19 20 give the five-number summary. find the IQR, LF, UF, outliers, range, and mid-range
The following table gives the U.S. national debt for selected years from 1900 to 2013. U.S. Debt ($ billions) 3233 5225 Year 1900 1910 1920 1930 1940 1945 1955 1965 1975 1965 U.S. Debt ($ billions) 1 1 24 16 43 259 273 314 533 1823 Year 1990 1996 2000 2005 2009 2010 2011 2012 2013 5674 7933 11,957 13,529 15,476 16,067 16,856 (a) Using a function of the form ya b^x, with x=0 in 1900 and y equal to the national debt in billions, model the data. (Round your coefficients to four decimal places.) y= (b) Use the model to predict the debt in 2023. (Round your answer to the nearest billion.) $ billion (c) Predict the year in which the debt will be $71 trillion ($71,000 billion).

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS