Suppose Bank of America would like to investigate if the credit score and income level of an individual are independent of one another. Bank of America selecteda random sample of 400 adults and asked them to report their credit score range and their income range. The following contingency table presents these results.Credit ScoreclassLess than 650650-750More than 750Income < $50,000312121$50,000 < Income < $100,000795745$100,000 < Income < $150,000542422Income 2 $150,000211213The p-value for this hypothesis test is Multiple Cholceless than 01Oless than 0.05greater than 0,10between 0.01 and 0.025

The data shows credit score and income level of an individual.

Answered: Suppose Bank of America would like 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

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24. On-Time Arrivals. The Air Travel Consumer Report is a monthly product of the Department of Transportation's Office of Avi- ation Enforcement and Proceedings. The report is designed to assist consumers with information on the quality of services provided by the airlines. Following are the percentages of on-time arrivals for June 2013 by the 16 reporting airlines. 93.1 87.5 77.9 77.3 76.1 73.8 73.0 72.5 71.1 70.6 69.8 69.6 69.0 66.0 65.9 61.8 a. Identify the classes for grouping these data, using cutpoint group- ing with classes of equal width 5 and a first lower class cutpoint of 60. b. Identify the class midpoints of the classes found in part (a). c. Construct frequency and relative-frequency distributions of the data based on your classes from part (a). d. Draw a frequency histogram of the data based on your classes from part (a). e. Round each observation to the nearest whole number, and then construct a stem-and-leaf diagram with two lines per stem. f. Obtain the greatest…
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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 as the cutoff point for the number of minutes at which the customer should be contacted. What is the cutoff point? 361 543 355 353 460 408 494 517 324 542 424 353 307 388 318 369 532 516 308 483 The cutoff point is minutes. (Round to the nearest minute.)
Would observations or interviews be more appropriate to research the following topic?How politicians define family values.O ObservationsO Interviews
Income Tax and the IRS. In 2010, the Internal Revenue Service (IRS) sampled 308,946 tax returns to obtain estimates of various parameters. Data were published in Statistics of Income, Individual Income Tax Returns. According to that document, the mean income tax per return for the returns sampled was $11,266. a. Explain the meaning of sampling error in this context.b. If, in reality, the population mean income tax per return in 2010 was $11,354, how much sampling error was made in estimating that parameter by the sample mean of $11,266?c. If the IRS had sampled 400,000 returns instead of 308,946, would the sampling error necessarily have been smaller? Explain your answer.d. In future surveys, how can the IRS increase the likelihood of small sampling error?
The table below shows the average income by age group for the residents of one town in the year 1998. The average incomes for each age group are estimates based on a sample of size 100 from each group. Age group Average income 18 - 24 $17,180 25 - 39 $26,661 40 - 54 $32,471 55 – 70 $25,960 Over 70 $18,241 Classify the study as either descriptive or inferential.
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Age and Gender. The U.S. Census Bureau publishes census data on the resident population of the United States in Current Population Survey. According to that document, 7.3% of male residents are in the age group 20–24 years. a. If no association exists between age group and gender, what percentage of the resident population would be in the age group 20–24 years? Explain your answer.b. If no association exists between age group and gender, what percentage of female residents would be in the age group 20–24 years? Explain your answer.c. There are about 158 million female residents of the United States. If no association exists between age group and gender, how many female residents would there be in the age group 20–24 years?d. In fact, there are some 10.9 million female residents in the age group 20–24 years. Given this number and your answer to part (c), what do you conclude?
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I need help with number 8, 4, and 5. Thank you so much :)
1. We are interested in determining if absences from a class affect your overall class grade. The following data from 10 students is provided: Absences Grade 89.2 1 83.7 83.5 81.1 4 78.2 73.9 6 64.3 7 71.8 8 55.9 65.2
The human resource manager at a car dealership wants to know if the ages of its employees are related to the department that they work in. Data was compiled and tabulated in a 2-way contingency table. The employees were classified according to their age and department. Expected counts are printed below observed counts Sales Accounts Marketing Repairs Total 20-29 10 27 43 88 17.74 *** 26.20 23.62 30-39 29 26 38 22 23.18 26.72 34.24 30.86 40-49 33 32 72 82 219 44.15 50.88 65.20 58.77 50-59 81 106 86 54 327 65.92 75.97 97.36 87.75 Total 151 223 201 749 Chi-Sq = 5.348 + **** + 0.024 + 15.912 + 1.459 + 0.019 + 0.413 + 2.544 + 2.816 + 7.003 + 0.709 + 9.182 + 3.448 + 11.875 + 1.325 + 12.983 = 80.395 DF = *****, P-Value = ****** No cells with expected counts less than 5. a) Name the random variables present in the table above. O LO Co

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