Discuss the relationship between ability bias in the estimation of the rate of return to schooling and selection bias in tests of the hypothesis that workers choose the level of schooling that maximizes the present value of earnings.
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Discuss the relationship between ability bias in the estimation of the rate of return to schooling and selection bias in tests of the hypothesis that workers choose the level of schooling that maximizes the present value of earnings.
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- The following table shows the cross-classification of accounting practices (either straight line, declining balance, or both) and country (either France, Germany, or United Kingdom). France Germany United Kingdom Straight Line 20 11 30 Declining Balance 14 16 15 Both 15 23 13 Set up the competing hypotheses to determine if accounting practice and country are dependent. What is the degrees of freedom for the test. Calculate the value of the test statistic (Square of x).A manufacturing firm produces its products in batches using sophisticated machines and equipment. The general manager wanted to investigate the relationship between direct labor costs and the number of units produced per batch. The recorded the data from the last 30 batches is below Batch Size Labor Cost Batch Size Labor Cost (5) 25 34 19 31 39 21 21 19 40 36 34 29 26 36 423 415 447 430 340 317 362 452 464 438 420 400 469 25 39. 25*8585& 29 31 21 36 39 29 41 35. 21 29 25 395 88888883 429 440 420 400 425 420 401 451 422 410 395 409 Determine the fixed and variable labor costs (Round your answers to the nearest cent) fixed cost 5 variable labor costA large supermarket chain has invested heavily in data, technology, and analytics. Feeding predictive models with data from an infrared sensor system to anticipate when shoppers will reach the checkout counters, they are able to alert workers to open more checkout lines as needed. This has allowed them to lower their avera checkout time from four minutes to less than 30 seconds. Consider the data in the following table containing 32 observations. Suppose each observation gives the arrival time (measured in minutes before p.m.) and the shopping time (measured in minutes). O Arrival Time (minutes before 6:00 p.m.) Shopping Time (Minutes) 58 21 59 83 54 96 39 13 0 133 55 0 92 12 4 28 Shopping Time (minutes) 23 18 25 28 40 45 33 25 12 53 21 13 37 15 12 17 20 40 60 80 100 120 Arrival Time (Minutes Before 6:00 p.m.) Arrival Time (minutes before 6:00 p.m.) 140 38 AO 15 78 32 23 18 24 38 57 113 30 109 (a) Develop scatter diagram for arrival time as the independent variable. 47 104 72 112…
- How do multiple regression analyses control for Type 1 error? a)By allowing the recruitment of larger sample groups b)By examining the simultaneous association of the same outcome variable c)By conducting analyses in a hierarchical fashion d)By allowing the statistical control of confounding variables e)By conducting one analysis instead of many analysesHow productive are U.S. workers? One way to answer this question is to study annual profits per employee. A random sample of companies in computers (I), aerospace (II), heavy equipment (III), and broadcasting (IV) gave the following data regarding annual profits per employee (units in thousands of dollars). I II III IV 27.9 13.5 22.2 17.9 23.2 9.6 20.5 16.4 14.7 11.1 7.7 14.5 8.3 8.9 12.7 15.9 11.8 6.5 7.7 10.6 19.1 9.5 What are the degrees of freedom? (numerator) (denominator)(c) Find the P-value of the sample test statistic. P-value > 0.100 0.050 < P-value < 0.100 0.025 < P-value < 0.050 0.010 < P-value < 0.025 0.001 < P-value < 0.010 P-value < 0.001 (d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis? Since the P-value is greater than the level of significance at α = 0.05, we do not reject H0. Since the P-value is less than or equal to the level of significance at α = 0.05, we…Question The relationship between United States unemployment and inflation rates during the Covid-19 pandemic. Background The covid-19 pandemic has led to higher unemployment rates in the United States than normal because many people were laid off jobs in response to the pandemic (Al-Fadly, 2020). It is important to analyze how such as sharp increase in unemployment affected inflation in relation to how unemployment have traditionally affected inflation. The overall relationship between unemployment and inflation has traditionally been an inverse one. It is argued that when unemployment rates are higher, the number of individuals who are looking for jobs usually becomes higher than the number of job positions that are available (Putnam & Azzarello, 2015). In such a situation, employers tend to pay lower wages because there is abundance of workers which naturally leads to a lower wage inflation. This study will examine the relationship between unemployment rates and inflation…
- c and d please7. Fit a straight line trend by the method of least squares to the following data. Year: 1989 1990 1991 1992 1993 1994 1995 1996 Earnings: 38 40 65 72 69 60 87 95 (Rs lakhs) Fore cast the earnings for the year 1997.An article in Technometrics by S. C. Narula and J. F. Wellington ["Prediction, Linear Regression, and a Minimum Sum of Relative Errors" (Vol. 19, 1977)] presents data on the selling price and annual taxes for 24 houses. The data are shown in the following table. Xis taxes paid. Taxes (Local, School), Price/1000 County)/1000 Sale 25.9 4.9176 29.5 5.0208 27.9 4.5429 25.9 4.5573 29.9 5.0597 29.9 3.8910 30.9 5.8980 28.9 5.6039 35.9 5.8282 31.5 5.3003 31.0 6.2712 30.9 5.9592 (a) Assuming that a simple linear regression model is appropriate, obtain the regression equation applicable and compute for the coefficient of determination. (b) Test the significance of the correlation coefficient. (c) Find the mean selling price given that the taxes paid is 6.111. (d) Construct a 95% Confidence Interval for the mean selling price computed in (C). Use the editor to formot your answer
