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Based on the information provided: 1. Calculate a point estimate for the true population average unemployment duration. 2. Calculate a 95% CI for the true population average unemployment duration.

Based on the information provided: 1. Calculate a point estimate for the true population average unemployment duration. 2. Calculate a 95% CI for the true population average unemployment duration.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Please assist with #2. Thanks!
ESTIMATION IN PRACTICE LARGE SAMPLES Problem: Large Sample CI: Numerical Economists take considerable interest in the average du- ration of unemployment spells. Suppose that we take a sample of 64 randomly selected individuals and ask them for how many weeks their last unemployment spell lasted. From the sample of 64 individuals, the average unem- ployment duration was 22 weeks, and the variance was 16 weeks. ESTIMATION IN PRACTICE LARGE SAMPLES Problem: Large Sample CI: Numerical (cont'd) Based on the information provided: 1. Calculate a point estimate for the true population average unemployment duration. 2. Calculate a 95% CI for the true population average unemployment duration.
Transcribed Image Text:ESTIMATION IN PRACTICE LARGE SAMPLES Problem: Large Sample CI: Numerical Economists take considerable interest in the average du- ration of unemployment spells. Suppose that we take a sample of 64 randomly selected individuals and ask them for how many weeks their last unemployment spell lasted. From the sample of 64 individuals, the average unem- ployment duration was 22 weeks, and the variance was 16 weeks. ESTIMATION IN PRACTICE LARGE SAMPLES Problem: Large Sample CI: Numerical (cont'd) Based on the information provided: 1. Calculate a point estimate for the true population average unemployment duration. 2. Calculate a 95% CI for the true population average unemployment duration.
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