Median Household Income ($) % of population over 25 with BA degree and higher 100,92942.1 71,34820.5 59,96125.0 69,58821.1 108,68939.4 90,99632.1 63,28419.5 53,74627.5 58,52813.4 66,83415.2 63,64712.5 49,75716.2 82,43929.9 60,98013.5 136,03254.8 55,05722.5 59,46013.0 74,32023.1 92,29131.9 72,72332.8 101,99137.3 96,62335.7 72,79320.8 73,41328.2 70,60818.8 86,49035.1 119,79552.9 70,04618.1 75,33232.1 129,29045.0 83,77331.4 125,94647.3 89,00737.5 59,94919.1 46,76424.0 80,79724.3 82,00632.6 65,64316.4 67,64618.5 55,48014.1 58,29513.3 59,26619.8 98,20031.6 76,75238.3 54,21314.2Q1: Please use the data set to calculate the below descriptive statistics. MeanMedianRangeStandard DeviationVariancemedian household income % of population over 25 with BA degree and higher Q2: Please explicitly write out the eight steps when you use correlation coefficients to test whether there is a relationship between wealth and level of education.Step 1: State the null and research hypotheses. Step 2 & 3: Set the level of risk associated with the null hypothesis and select the appropriate test statistic. Step 4: Compute the test statistic value. Step 5: Determine the critical value. Step 6: Compare the obtained value to the critical value. Step 7 & 8: Make a decision.

Q1 : The descriptive statistics of the median household income and % of population over 25 with BA…

Answered: Q1: Please use the data set to…

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

Related questions

Question

Median Household Income ($)	% of population over 25 with BA degree and higher
100,929	42.1
71,348	20.5
59,961	25.0
69,588	21.1
108,689	39.4
90,996	32.1
63,284	19.5
53,746	27.5
58,528	13.4
66,834	15.2
63,647	12.5
49,757	16.2
82,439	29.9
60,980	13.5
136,032	54.8
55,057	22.5
59,460	13.0
74,320	23.1
92,291	31.9
72,723	32.8
101,991	37.3
96,623	35.7
72,793	20.8
73,413	28.2
70,608	18.8
86,490	35.1
119,795	52.9
70,046	18.1
75,332	32.1
129,290	45.0
83,773	31.4
125,946	47.3
89,007	37.5
59,949	19.1
46,764	24.0
80,797	24.3
82,006	32.6
65,643	16.4
67,646	18.5
55,480	14.1
58,295	13.3
59,266	19.8
98,200	31.6
76,752	38.3
54,213	14.2

Q1: Please use the data set to calculate the below descriptive statistics.

	Mean	Median	Range	Standard Deviation	Variance
median household income
% of population over 25 with BA degree and higher

Q2: Please explicitly write out the eight steps when you use correlation coefficients to test whether there is a relationship between wealth and level of education.
Step 1: State the null and research hypotheses.



Step 2 & 3: Set the level of risk associated with the null hypothesis and select the appropriate test statistic.



Step 4: Compute the test statistic value.



Step 5: Determine the critical value.



Step 6: Compare the obtained value to the critical value.



Step 7 & 8: Make a decision.

Definition Definition Middle value of a data set. The median divides a data set into two halves, and it also called the 50th percentile. The median is much less affected by outliers and skewed data than the mean. If the number of elements in a dataset is odd, then the middlemost element of the data arranged in ascending or descending order is the median. If the number of elements in the dataset is even, the average of the two central elements of the arranged data is the median of the set. For example, if a dataset has five items—12, 13, 21, 27, 31—the median is the third item in ascending order, or 21. If a dataset has six items—12, 13, 21, 27, 31, 33—the median is the average of the third (21) and fourth (27) items. It is calculated as follows: (21 + 27) / 2 = 24.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Frequency Statistics$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions