Does it pay to stay in school? A report looked at the median hourly wage gain per additional year of schooling in 2007. The reportstates that workers with a high school diploma had a median hourly wage that was 9% higher than those who had only completed11 years of school. Workers who had completed 1 year of college (13 years of education) had a median hourly wage that was10% higher than that of the workers who had completed only 12 years of school. The added gain in median hourly wage for eachadditional year of school is shown in the accompanying table. The entry for 15 years of schooling has been intentionally omittedfrom the table.Years of Schooling1213141617182007 Median Hourly Wage Gainfor the Additional Year (percent)91012151718(a) Use the given data to predict the median hourly wage gain for the 15th year of schooling. (Round your answer to onedecimal place.)%%(b) The actual wage gain for 15th year of schooling was 14%. How close was the actual value to the predicted wage gainpercent from part (a)? (Use actual predicted. Round your answer to one decimal place.)

Use the below table to find the least square regression equation:Years of schooling (X)2007 median…

Answered: Does it pay to stay in school? A report…

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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Suppose your firm generated $50.0million$⁢50.0⁢million in sales. What would be the 95%95% prediction interval for your firm's net income? Write your answer using interval notation. Round your answer to 1 decimal place.
All companies are rightly concerned about the income disparity between Males and Females and FringeTech is no different. Is there any evidence in the data that Males are earning more than Females on average? Gender Income ($000) F 94.1 F 69.4 F 81.7 F 72.1 F 90.1 F 84.4 F 77.5 F 124 F 71.2 F 72.1 F 75.7 F 79.8 F 76.7 F 65.1 F 83.8 F 85.8 F 70.6 F 93.3 F 80.1 F 80.8 F 85.5 F 62.1 F 88.5 F 88.2 F 110.3 F 124.6 F 97.6 F 82.4 F 58.2 F 75.5 F 75.1 F 70.5 F 83.9 F 95.5 F 150.2 F 84.4 F 88.7 F 135.4 F 72.3 F 65.5 F 80.3 F 136.8 F 75.8 F 47.5 F 86.6 F 64.4 F 99.3 F 40 F 69.1 F 107.7 F 74.7 F 90.3 F 82.2 F 97 F 125.3 F 111.1 F 60.4 F 102.7 F 89 F 69.4 F 61.6 F 93.1 F 87.2 F 67.7 F 130.6 F 83.2 F 50.4 F 132.7 F 69.1 F 103.6 F 80.2 F 73.9 F 56.3 F 130.2 F 80.7 M 83.1 M 95.4 M 128.2 M 127.3 M 96.8 M 94 M 125.5 M 107.2 M 92.4 M…
A poll uses responses everal questions to calculate a "Happiness" index that measures overall happiness. An article included the happiness index for the 7 years between 2008 and 2016. Also included in the article were the percentages of people who responded "somewhat agree" or "strongly agree" to the following statements. Statement 1 (happy with life) 1: At this time, I'm generally happy with my life. Statement Year 2008 2009 2010 2011 2013 2015 2016 2 (won't benefit): I won't get much benefit from the things that I do anytime soon. Happiness Index 36 36 34 32 36 33 30 Happy with Life Statement (percentage somewhat or strongly agree) 82 83 78 79 83 80 82 Won't Benefit Statement (percentage somewhat or strongly agree) 31 37 35 39 39 37 42 (a) Calculate the value of the correlation coefficient for Happiness index and the response to the Happy with life statement. (Round your answer to four decimal places.) 0.8321 x (b) Calculate the value of the correlation coefficient for Happiness…
As a sales analyst for the shoe retailer Foot Locker, one of your responsibilities is measuring store productivity and then reporting your conclusion back to management. Foot Locker uses sales per square foot as a measure of store productivity. While preparing your report for the second quarter results (Q2), you are able to determine that annual sales for last year ran at a rate of $406 per square foot. Therefore, $406 per square foot will be your sales estimate for the population of all Foot Locker stores during Q2. For your Q2 Sales Report, you decide to take a random sample of 64 stores. Using annual data from last year, you are able to determine that the standard deviation for sales per square foot for all 3,400 stores was $80. Therefore $80 per square foot will be your population standard deviation when compiling your Q2 report. Management has asked for the probability that your sample mean based on 64 stores is 1) within $15 and 2) within $5 of the population mean…
The following data represent the monthly phone use, in minutes, of a customer enrolled in a fraud prevention program for the past 20 months. The phone company decides to use the upper fence ad the cutoff point for the number of minutes at which the customer should be contacted. What is the cutoff point?
A researcher is conducting a test to see if handedness (right or left) affects the speed at which people perform a particular task. The researcher only knows the order in which the contestants finished. When the data are summarized (with R for right-handed and L for left-handed) the order of finishing (fastest to slowest) was: R, R, R, R, L, R, L, R, L, L Is there statistically significant evidence of an effect of handedness on the speed? Test statistic: The name of the statistical table, degrees of freedom (if appropriate), and the numerical value of the critical value for this test: P-value: Circle an appropriate conclusion: • There is significant evidence that left-handed contestants will finish the task faster. • We cannot reject the hypothesis that handedness has no effect on the time to finish the task. • There is significant evidence that right-handed contestants will finish the task faster.
Hours Spent in Child Care 5.5 11.4 2.1 11.0 7.2 5.1 9.1 10.2 2.9 8.7 10.0 9.0 9.8 9.4 3.1 8.5 9.6 10.6 7.6 8.9 10.7 6.0 0.6 3.7 9.8 3.3 3.5 5.0 3.3 10.3 7.3 6.9 6.1 4.3 0.8 6.9 8.1 1.3 1.6 9.8 Sample Size 40 Hypothesized Mean 6
Consider the following passage: I ran a regression, with many variables to predict the result of another variable which was the murder rate. One can see that lots of things, can cause the murder rate to increase or decrease. I tried to account for all the important factors, and those factors are the SAT scores, unemployment rate, and international migration per 1,000. The SAT score is, average combined total score participants did on the SAT exam. The unemployment rate is, "a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force." (Wikipedia) International migration per 1,000 is, the number of people who come into a state from other countries per 1,000 people who live in the state. After I run the regression I will look at the t scores and p values and I should hopefully conclude that international migration does not cause crime. Which writing mistakes, if any, did…
From the following data of the daily wage of 500 workers of a factory find the number of workers : (a) whose wages are more than $ 370 but not more than $ 400. (b) whose wages are less than $ 370 but not less than $ 350. Wages not exceeding $ 300 =150 workers Wages not exceeding $ 350 = 180 workers Wages not exxceeding $ 400 = 240 workers Wages not exceeding $ 450 = 400 workers Wages not exceeding $ 500 = 500 workers
A psychologist believed that as children get older, they engage in more “inactive activities” such as playing computer games, watching TV and surfing the internet. She collected data from 10 children. She recorded the age of each child and the amount of activity (in hours) the child engaged in per week. Age Activity 7 4.3 9 3.2 10 1 13 1.5 12 1.2 15 0.8 9 3 12 4 15 1.5 14 1.9 Using excel, obtain a scatterplot of the data. Discuss the relationship between age and activity based on the scatterplot. Using excel, obtain the simple linear regression linear regression line predicting activity from age. Interpret the intercept and slope of the regression line. By hand, predict the amount of activity for age = 14. By hand, calculate the residual for age = 14 Using excel output, test the null hypothesis that the slope coefficient is zero using the p-value approach. Write one sentence interpreting the meaning of this result. Make sure to report the test statistic…
A researcher wants to know how long it takes, on average, for a certain species of bacteria to divide. She watches 17 cells through a microscope and times how long it takes them to divide. She obtains the following data, in hours:6.7, 10.5, 4.8, 5.2, 5.2, 10.6, 4.4, 5.7, 10.9, 7.5, 5.3, 4.4, 5.7, 5.2, 6.9, 4.5, 7.7Assuming the population standard deviation is σ=2σ=2, construct a 94% confidence interval for the average time it takes this species of bacteria to divide.xˉ=x̄=α2=α2=zα2=zα2=Margin of Error: E=E=We are 94% confident that this species of bacteria takes, on average, between hours and hours to divide.___
Scenario: Album Sales: A study was done to see whether getting radio airtime and spending money on advertisements accurately predicts the number of album copies sold. A random sample of 200 artists’ albums were tracked on the number of times their songs play on the central radio station, how much money (in thousands) they spent on advertisements, as well as the number (in thousands) of album copies were sold. A record company wanted to determine if there was a positive relationship between album sales and the other two variables (money spent on advertisements and number of albums sold) What is the Null and alternative hypotheses (based on context of study) in symbols and words:

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