With regard to Lasperye's and Paasche's price index number, it is maintained that "if the prices of all the goods change in the same ratio, the two indices will be equal for then the weighting system is irrelevent or if the quantities of the goods change in the same ratio, they will be equal, for then the two weighting systems are the same relatively."
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- The following data was collected to explore how the number of square feet in a house, the number of bedrooms, and the age of the house affect the selling price of the house. The dependent variable is the selling price of the house, the first independent variable ,) is the square footage, the second independent variable cr) is the number of bedrooms, and the third independent variable 1 is the age of the house.1. (10 ) According to the PayScale data from 2021, the average starting salaries by college major for bachelor's degree are as follows: $70,600 for mechanical engineering, $56,700 for economics, $43,500 for chemistry, and $47,000 for philosophy. In order to estimate the true difference in the average starting salaries by college major in 2022, 60 graduates with these four majors from the class of 2022 were contacted and questioned about their starting salaries. Propose a regression model with dummy variables that could be used to investigate if starting salaries are different by college major and interpret all the coefficients in the model. 0.0003.) M/M/2 Mean Arrival Rate: 20 customers/hour Mean Service Rate: 12 customers/hour Number of Servers: 2 Customer Waiting Cost $10/hour Assume an 8-hour day. Assume the customer waiting cost is based on time in the system. What is the daily cost of customer waiting?
- 11. This scatterplot could show the relationship between which two variables? A. speed of an airplane (x) vs. distance traveled in one hour (y) B. outside air temperature (x) vs. air conditioning costs (y) C. age of an adult (x) vs. height of an adult (y) D. distance traveled (x) vs. gas remaining in the tank (y)Atlantic hurricanes form off the western coast of Africa. As warm moist air rises, it begins to rotate around a low- pressure system. This rotation is sustained by warm ocean temperatures and a central low pressure. Once a sustained wind speed of 74 miles per hour is reached, the storm is considered a hurricane. As man-made climate change continues to increase the temperature of the Earth's oceans, it is expected that the strength of hurricanes will Typically, a lower central pressure within a hurricane's eye is associated with a higher wind speed. Here, statistical software (R/RStudio) will be used to explore this relationship by applying linear regression methods. Using a database of landfalling hurricanes in the United States, a linear regression will be used to correlate the central pressure of each hurricane to its maximum sustained wind speed. increase. Regression Plot y=942.196-0.884*x R^2=0.768 ----- ----------- -. •... •. 980 1000 940 960 900 920 Independent Variable (x)…Two of the mathematics professors at Enormous State University are Professor A (known for easy grading) and Professor F (known for tough grading). Last semester, roughly three-fifths of Professor F's class consisted of former students of Professor A; these students apparently felt encouraged by their (utterly undeserved) high grades. (Professor F's own former students had fled in droves to Professor A's class to try to shore up their grade point averages.) At the end of the semester, as might have been predicted, all of Professor A's former students wound up with a C− or lower. The rest of the students in the class—former students of Professor F who had decided to "stick it out"—fared better, and one-fourth of them earned higher than a C−. After discovering what had befallen them, all the students who earned C− or lower got together and decided to send a delegation to the Department Chair to complain that their grade point averages had been ruined by this callous and heartless beast!…
- 3. Prices of diamonds are determined by what is known as the 4 Cs: cut, clarity, color, and carat weight. The prices of diamonds go up as the carat weight increases, but the increase is not smooth. For example, the difference between the size of a 0.99 carat diamond and a 1 carat diamond is undetectable to the naked human eye, but the price of a 1 carat diamond tends to be much higher than the price of a 0.99 diamond. In this question we use two random samples of diamonds, 0.99 carats and 1 carat and compare the average prices of the diamonds. In order to be able to compare equivalent units, we first divide the price for each diamond by 100 times its weight in carats. That is, for a 0.99 carat diamond, we divide the price by 99. For a 1 carat diamond, we divide the price by 100. 1 carat $54.42 0.99 carats $44.51 $13.32 Mean SD $16.03 n 23 1558 Find a 95% confidence interval for the difference in Price Per Carat between 0.99 and 1.00 carat diamonds. Interpret the interval in context. If…3. Prices of diamonds are determined by what is known as the 4 Cs: cut, clarity, color, and carat weight. The prices of diamonds go up as the carat weight increases, but the increase is not smooth. For example, the difference between the size of a 0.99 carat diamond and a 1 carat diamond is undetectable to the naked human eye, but the price of a 1 carat diamond tends to be much higher than the price of a 0.99 diamond. In this question we use two random samples of diamonds, 0.99 carats and 1 carat and compare the average prices of the diamonds. In order to be able to compare equivalent units, we first divide the price for each diamond by 100 times its weight in carats. That is, for a 0.99 carat diamond, we divide the price by 99. For a 1 carat diamond, we divide the price by 100. 0.99 carats 1 carat $44.51 $13.32 Мean $54.42 SD $16.03 23 1558 Find a 95% confidence interval for the difference in Price Per Carat between 0.99 and 1.00 carat diamonds. Interpret the interval in context. If…1
- (d) If the results of (b) and (c) are the same, which drug appears to be better? If not, explain how the discrepancy occurs.conditions of both the districts with reference to these two causes of death. Assume The following are the information about the number of persons who are affected by Diabetes and Lung Cancer and the number of persons died due to Find the 1llness specific death rates for the two districts. Also, compare health District A District B No. of Persons No. of Persons Cause of Death Affected Died Affected Died 20000 325 22000 400 Diabetes 19500 300 21225 380 Lung Cancer la person affected by Diabetes is not affected by Lung Cancer and vice-versa.Please make sure the response is specific to the variables in this problem: Imagine that you are interested in studying the working habits of young adults. You hypothesize that persons first married in their twenties tend to work an average of 5 hours more per week than persons not first married in their twenties. After conducting a survey study, you find a relationship between participants’ age at first marriage and the number of hours worked per week. What three conditions must be satisfied for you to have established a causal connection?