EBK BUSINESS STATISTICS
7th Edition
ISBN: 8220102743984
Author: STEPHAN
Publisher: PEARSON
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Ten years ago, the town of Easton decided to increase its annual spending on education so that its high school graduates would be able to earn higher wages. Now Easton has asked you to evaluate the effectiveness of the spending increase. Their data show that before the spending increase, the average annual salary of recent high school graduates was $25,000 and that now that average salary has risen to $28,500. Fortunately for your analysis, a neighboring community (Allentown) did not change its annual spending on education. Ten years ago, recent Allentown high school graduates earned an average of $22,500, and now that average is $23,750.
(a) Use a difference-in-differences estimator to determine whether Easton’s spending increase caused the wages of their high school graduates to increase.
please provide an accurate answer.
Strands of human hair absorb elements from the bloodstream and provide a historical record of both health and the use or nonuse of chemical substances. Hair grows at the rate of about one – half inch per month, and a person with long hair might be accused or absolved on the basis of a segment of hair that sprouted many months or years ago. By separately analyzing sections of the hair strand, scientists can even approximate the periods of time during which drug use was heavy, moderate, light or altogether absent. If a transit employee provides a strand of hair for drug testing, state the null and alternative hypothesis in verbal terms, then identify what would constitute a Type I error and Type II error in this situation.
please answer the question fully!
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- What does the y -intercept on the graph of a logistic equation correspond to for a population modeled by that equation?arrow_forwardAs we have learned, the nature of the workplace is changing rapidly. The rise in the use of robots and artificial intelligence has decimated the employment prospects for many employees in many industries. It has also changed the nature of the role of human resource professionals. With that as a background, compose a paper that addresses the following: Provide a general overview on the rise in the use of robots and artificial intelligence in the workplace. Present evidence that the use of robots and artificial intelligence is increasingly taking the employment opportunities to which humans have traditionally performed, including the level and scope of this trend. Assess how this trend has affected the promise and security of continued employment for some/many in the United States economy, including an assessment on how the nature and type of employment is changing for the typical US worker (e.g., more part-time employment or static wages). Present the criteria a human resource…arrow_forwardFiske Corporation manufactures a popular regional brand of kitchen utensils. The design and variety has been fairly constant over the last three years. The managers at Fiske are planning for some changes in the product line next year, but first they want to understand better the relation between activity and factory costs as experienced with the current products. Discussions with the plant supervisor suggest that overhead seems to vary with labor-hours, machine-hours, or both. The following data were collected from last three year's operations: Quarter Machine-Hours 18,850 4 5 6 7 8 9 10 11 12 18,590 17,480 19,240 21,280 19,630 19,240 18,850 18,460 20,670 17,550 18,460 Labor-Hours 15,605 15,484 16,727 15,990 17,508 17,376 15,297 14,373 16,001 17,002 14,285 17,651 Factory costs $ 3,395,671 3,425,836 3,617,844 3,573,940 3,812,984 3,778,012 3,532,426 3,369,802 3,513, 187 3,731,434 3,325,615 3,724,486 Required: Prepare a scatter graph based on the factory cost and labor-hour data. Note: 1.…arrow_forward
- Par, Inc., is a major manufacturer of golf equipment. Management believes that Par's market share could be increased with the introduction of a cut-resistant, longer-lasting golf ball. Therefore, the research group at Par has been investigating a new golf ball coating designed to resist cuts and provide a more durable ball. The tests with the coating have been promising. One of the researchers voiced concern about the effect of the new coating on driving distances. Par would like the new cut-resistant ball to offer driving distances comparable to those of the current-model golf ball. To compare the driving distances for the two balls, 40 balls of both the new and current models were subjected to distance tests. The testing was performed with a mechanical hitting machine so that any difference between the mean distances for the two models could be attributed to a difference in the two models. Prepare a managerial report that investigates the effect of the new coating on driving…arrow_forwardPar, Inc., is a major manufacturer of golf equipment. Management believes that Par's market share could be increased with the introduction of a cut-resistant,longer-lasting golf ball. Therefore, the research group at Par has been investigating a new golf ball coating designed to resist cuts and provide a more durable ball. The tests with the coating have been promising. One of the researchers voiced concern about the effect of the new coating on driving distances. Par would like the new cut-resistant ball to offer driving distances comparable to those of the current-model golf ball. To compare the driving distances for the two balls,40 balls of both the new and current models were subjected to distance tests. The testing was performed with a mechanical hitting machine so that any difference between the mean distances for the two models could be attributed to a difference in the two models. The results of the tests, with distances measured to the nearest yard, follow. These data are…arrow_forwardConsumer Reports (January 2005) indicates that profit margins on extended warranties are much greater than on the purchase of most products. In this exercise we consider a major electronics retailer that wishes to increase the proportion of customers who buy extended warranties on digital cameras. Historically, 20 percent of digital camera customers have purchased the retailer's extended warranty. To increase this percentage, the retailer has decided to offer a new warranty that is less expensive and more comprehensive. Suppose that three months after starting to offer the new warranty, a random sample of 505 customer sales invoices shows that 158 out of 505 digital camera customers purchased the new warranty. Find a 95 percent confidence interval for the proportion of all digital camera customers who have purchased the new warranty. Are we 95 percent confident that this proportion exceeds .20? (Round your answers to 3 decimal places.) The 95 percent confidence interval is the entire…arrow_forward
- For many years, businesses have struggled with the rising cost of health care. But recently, the increases have slowed due to less inflation in health care prices and employees paying for a larger portion of health care benefits. A recent survey showed that 52% of employers are likely to require higher employee contributions for health care coverage this year relative to last year. Suppose the survey was based on a sample of 900 companies likely to require higher employee contributions for health care coverage this year relative to last year. At 95% confidence, compute the margin of error for the proportion of companies likely to require higher employee contributions for health care coverage. (Round your answer to four decimal places.) Compute a 95% confidence interval for the proportion of companies likely to require higher employee contributions for health care coverage. (Round your answers to four decimal places.) toarrow_forwardEconomist A.W. Phillips was one of the first economists to present compelling evidence of the correlation between unemployment and wage inflation. Since wages and salaries are a major input cost for companies, rising wages should lead to higher prices for products and services in an economy, ultimately pushing the overall inflation rate higher. As a result, Phillips graphed the relationship between general price inflation and unemployment, rather than wage inflation. Data on unemployment (independent) and inflation (dependent) from the Federal Reserve is on the Excel workbook. Find the equation for the regression line for this data. Find the correlation coefficient and R2. Using the data, is the correlation statistically significant at the 1% level? Federal Reserve Economic Data https://fred.stlouisfed.org/graph/?g=3obN Observation date Unemployment Rate Inflation Rate 1 1960-01-01 5.2 1.2 2 1961-01-01 6.6 1.6 3 1962-01-01 5.8 0.7 4…arrow_forwardOverhead Door (OD) Corporation’s founder, C. G. Johnson, invented the upward-lifting garage door in 1921 and the electric garage door opener in 1926. Since then OD has been a leading supplier of commercial, industrial, and residential garage doors sold through a nationwide network of more than 450 authorized distributors. They have built a solid reputation as a premier door supplier, commanding 15 % share of the market. Suppose that customers assess door quality first in terms of the ease of operation, followed by its durability. The quality improvement team (QIT) might then assign an engineering team to determine the factors that contribute to these two main problems. Smooth operation of a garage door is a critical quality characteristic that affects both problems: If a door is too heavy, it’s difficult and unsafe to balance and operate; if it’s too light, it tends to buckle and break down frequently or may not close properly. Suppose the design engineers determine that a standard…arrow_forward
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