APPLIED STAT.IN BUS.+ECONOMICS
6th Edition
ISBN: 9781259957598
Author: DOANE
Publisher: RENT MCG
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Chapter 1, Problem 27CE
The Graduate Management Admission Test (GMAT) is used by many graduate schools of business as one of their admission criteria. Using your own reasoning and concepts in this chapter, criticize each of the following conclusions.
- a. “Last year, 7,573 computer science majors took the GMAT, compared with only 588 philosophy majors. Philosophy majors must not be interested in business because so few take the GMAT.”
- b. “Last year, 29,688 engineering majors took the GMAT, compared with only 3,589 English majors. Clearly, more students major in engineering than in English.”
- c. “Last year, physics majors averaged 100 points higher on the GMAT than marketing majors. If marketing students majored in physics, they would score better on the GMAT.”
- d. “On average, physics majors score higher on the GMAT than accounting majors. Therefore, physics majors would make the best managers.”
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Students have asked these similar questions
7. In a 2011 article, M. Radelet and G. Pierce reported a logistic prediction equation
for the death penalty verdicts in North Carolina. Let Y denote whether a subject
convicted of murder received the death penalty (1=yes), for the defendant's race
h (h1, black; h = 2, white), victim's race i (i = 1, black; i = 2, white), and
number of additional factors j (j = 0, 1, 2). For the model
logit[P(Y = 1)] = a + ß₁₂ + By + B²²,
they reported = -5.26, D
â
BD
=
0, BD
=
0.17, BY = 0, BY
=
0.91, B = 0,
B = 2.02, B = 3.98.
(a) Estimate the probability of receiving the death penalty for the group most
likely to receive it. [4 pts]
(b) If, instead, parameters used constraints 3D = BY = 35 = 0, report the esti-
mates. [3 pts]
h
(c) If, instead, parameters used constraints Σ₁ = Σ₁ BY = Σ; B = 0, report
the estimates. [3 pts]
Hint the probabilities, odds and odds ratios do not change with constraints.
Solve please and thank you!
Solve please and thank you!
Chapter 1 Solutions
APPLIED STAT.IN BUS.+ECONOMICS
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Ch. 1.5 - What logical or ethical problems do you see in...Ch. 1.5 - A recent study of 231,164 New Jersey heart attack...Ch. 1.5 - When Pennsylvania repealed a law that required...Ch. 1 - Define (a) statistic; (b) statistics.Ch. 1 - List three reasons to study statistics.Ch. 1 - List three applications of statistics.Ch. 1 - List four skills needed by statisticians. Why are...Ch. 1 - List three practical challenges faced by...Ch. 1 - List three ethical challenges faced by...Ch. 1 - List five pitfalls or logical errors that may...Ch. 1 - A survey of beginning students showed that a...Ch. 1 - Under a recent U.S. Food and Drug Administration...Ch. 1 - A statistical consultant was retained by a linen...Ch. 1 - Ergonomics is the science of making sure that...Ch. 1 - Analysis of 1,064 deaths of famous popular...Ch. 1 - A recent study showed that women who lived near a...Ch. 1 - Lacrosse helmets are not needed, said Tom. None of...Ch. 1 - A European study of thousands of men found that...Ch. 1 - A research study showed that 7 percent of A...Ch. 1 - A research study showed that adolescents who...Ch. 1 - The Graduate Management Admission Test (GMAT) is...Ch. 1 - (a) Which of these two displays (table or graph)...Ch. 1 - (a) Which of these two displays (table or graph)...
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