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 < $50,000293123$50,000 < Income < $100,00056442$100,000 < Income < $150,000553031Income 2 $150,0002829The test statistic for this sample is The test statistic for this sample isMultiple Cholce53.46255.01658.74762.272

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…
Listed below are the 35 members of the Metro Toledo Automobile Dealers Association. We would like to estimate the mean revenue from dealer service departments. The members are identified by numbering them 00 through 34. ID Number Dealer 00 01 02 03 04 05 06 07 08 09 10 11 Dave White Acura Autofair Nissan Autofair Toyota-Suzuki George Ball's Buick GMC York Automotive Group Bob Schmidt Chevrolet Bowling Green Lincoln Brondes Ford Brown Honda Brown Mazda Charlie's Dodge Thayer Chevrolet/Toyota ID Number 12 13 14 15 16 17 18 19 20 21 22 23 Dealer Spurgeon Chevrolet Motor Dunn Chevrolet Don Scott Chevrolet Dave White Chevrolet Co. Dick Wilson Infiniti Doyle Buick Franklin Park Lincoln Genoa Motors Great Lakes Ford Nissan Grogan Towne Chrysler Hatfield Motor Sales Kistler Ford, Inc. ID Number 24 25 26 27 28 29 30 31 32 33 34 Dealer Lexus of Toledo Mathews Ford Oregon, Inc. Northtown Chevrolet Quality Ford Sales, Inc. Rouen Chrysler Jeep Eagle Mercedes of Toledo Ed Schmidt Jeep Eagle…
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?
4. A college student is contemplating a possible career option. One factor that will influence his decision is the amount of money he is likely to make. He decides to look up the average salary of graduates in that profession. Which information would be more useful to him, the mean salary or the median salary? Why?
I need help with number 8, 4, and 5. Thank you so much :)
The provided table shows the in-state undergraduate tuition in 2014 and 2018 for 33 public universities.Virginia's data was identified as an unusual observation. Remove it from the dataset before performing the following analysis.Year2014Year2018Year2014Year2018Year2014Year2018UniversityUniversityUniversityPenn State17,50218,454Ohio State10,03710,726Texas979810,606Pittsburgh17,77219,080Virginia12,99817,564Nebraska80709154Michigan13,48615,262Cal-Davis15,58914,463lowa80799267Rutgers14,29714,974Cal-Berkeley12,97214,184Colorado10,78912,532Michigan StateCal-Irvine14,75715,614Iowa State7731898813,81314,460Purdue10,0029992North Carolina83468987Maryland942710,595Illinois15,02015,094Cal-San Diego13,45614.199Kansas10,44811,148Minnesota13,62614,693Oregon991811.898Arizona10,95712,487Missouri11,02112,055Wisconsin10,41010,555Florida63136381Buffalo887110,099Washington12,39411,517Georgia Tech11,39412,424Indiana10,38810,681UCLA13,02913,774Texas A&M917910,968Click to download the data in your…
Is there a relation between incidents of child abuse and number of runaway children? A random sample of cities (over 10,000 population) gave the following information about the number of reported incidents of child abuse and the number of runaway children. (Reference: Federal Bureau of Investigation, U.S. Department of Justice.) City 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Abuse cases 113 33 41 60 52 99 31 56 15 67 106 59 45 74 84 Runaways 648 188 285 687 421 590 284 277 162 473 600 432 317 580 592 Use a 1% level of significance to test the claim that there is a monotone-increasing relationship between the ranks of incidents of abuse and number of runaway children. (a) Rank-order abuse using 1 as the largest data value. Also rank-order runaways using 1 as the largest data value. Then construct a table of ranks to be used for a Spearman rank correlation test. City Abuse CasesRank x RunawaysRank y d = x - y d2 123456789101112131415 Σd2 = (b) What is the level of…
How do the average weekly incomes of electricians and carpenters compare? A random sample of 17 regions in the United States gave the following information about average weekly income (in dollars). (Reference: U.S. Department of Labor, Bureau of Labor Statistics.) Region 1 2 3 4 5 6 7 8 9 Electricians 464 715 597 464 736 694 744 571 806 Carpenters 542 813 513 476 688 503 789 653 474 Region 10 11 12 13 14 15 16 17 Electricians 592 594 702 579 868 598 597 654 Carpenters 489 647 676 384 817 605 556 505 Does this information indicate a difference (either way) in the average weekly incomes of electricians compared to those of carpenters? Use a 5% level of significance. (a) What is the level of significance? (b) Compute the sample test statistic. (c) Find the P-value of the sample test statistic.
The table below shows the auto insurance quotes for two leading companies for a sample of 15 families. Assume the populations SDs are similar, but unknown. The President of the American Insurance Institute wants to compare the yearly costs of such insurance offered by the two companies. At the 0.10 level of significance, can we conclude that there is a difference in the amounts quoted? Families Southern Car American Mutual ($) ($) 1 2090 1610 2 1683 1247 3 1402 2327 4 1830 1367 5 930 1461 6 697 1789 7 1741 1621 8 1129 1914 9 1018 1956 10 1881 1772 11 1571 1375 12 874 1527 13 1579 1767 14 1577 1636 15 860 1188
A) We have just conducted a study examining how much math anxiety students experience after taking a statistics class. We want to know if students on average are reporting low (1) or high (7) levels of math anxiety. To do that, we want to compare the math anxiety levels of the students after they have taken a statistics course to the average population math anxiety. We believe that the students on average will have a level of math anxiety that differs from the population. X 3 4 4 5 5 3 1 3 5 6 7 2 2 3 2 3 2 3 1 3 Report our null and alternative hypotheses in words. Given the information we have, what specific t-test do we need to run in order to examine our hypothesis? Provided are the ratings from the students that we recruited (see left), the mean and standard deviation for that sample (see below), and the population average (see below): xbar =3.35, Meu=4.00 and SD=1.60…

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