Concept explainers
An audit is performed on last year's 15, 000 student-aid packages given out by the financial aid office at Tasmania State University. Roughly half of the student-aid packages were less than $1000 (Category 1), about one-fourth were between $1000 and $5000 (Category 2), and another quarter were over $5000 (Category 3). For each audit described below, name the sampling method that best describes it. Choose your answer from the following: (A) simple random sampling, (B) convenience sampling, (C) quota sampling, (D) stratified sampling, (E) census.
a. The auditor reviews all 15,000 student-aid packages.
b. The auditor selects 200 student-aid packages in Category 1, 100 student-aid packages in Category 2, and 100 student-aid packages in Category 3.
c. The auditor reviews the first 500 student-aid packages that he comes across.
d. The auditor first separates the student- aid packages by school (Agriculture, Arts and Humanities, Engineering, Nursing, Social Science, Science, and Mathematics). Three of these schools are selected at random and further subdivided by major. Ten majors are randomly selected within each selected school, and then 20 students are randomly selected from each of the selected majors.
Want to see the full answer?
Check out a sample textbook solutionChapter 14 Solutions
Excursions in Mathematics, Loose-Leaf Edition Plus MyLab Math with Pearson eText -- 18 Week Access Card Package
- 3 (Sharpe-ratio) Suppose that X1, X2,..., is a lognormal geometric random walk with parameters (μ, o²). Specifically, suppose that X = Xo exp(rı + ...Tk), where Xo is a fixed constant and r1, T2, ... are IID N(μ, o²). Find the Sharpe-ratios of rk and log(Xk) — log(Xo) respectively, assuming the risk free return is 0.arrow_forwardi need help with question 2arrow_forwardNumerical anarrow_forward
- 7 Through the method of inverting the coefficient matrix, solve x+2x=8 2x - y = -5 x+y+z = 4.arrow_forward4 (Value-at-Risk and Expected Shortfall) Suppose X Find VaR0.02(X) and ES0.02 (X). ~ Uniform(-1, 1).arrow_forward亚 ח Variables Name avgdr employ educ exerany Label AVG ALCOHOLIC DRINKS PER DAY IN PAST 30 EMPLOYMENT STATUS EDUCATION LEVEL EXERCISE IN PAST 30 DAYSarrow_forward
- Numerical anaarrow_forwardVariables Name wage hours IQ KWW educ exper tenure age married black south urban sibs brthord meduc feduc Label monthly earnings average weekly hours IQ score knowledge of world work score years of education years of work experience years with current employer age in years =1 if married =1 if black =1 if live in south =1 if live in SMSA number of siblings birth order mother's education father's educationarrow_forwardInformation for questions 4 • • Please Download "wages" from Canvas (the link to this dataset is right below the HWA1 questions - it is a Microsoft excel worksheet) and store it in your favorite folder. It contains 797 observations and 16 variables. The "state" variable gives the names of the states involved in this dataset. • You need to have excel on your computer to open this dataset. i. You should use File > Import > Excel Spreadsheet etc. as done in class 3 convert this file into a Stata dataset. Once you are done, write the final STATA code that makes the transformation of an excel file to a STATA file possible. ii. Write a code that will close the log file that has been open since Question 1 part ii.arrow_forward
- The mean, variance, skewness and kurtosis of a dataset are given as - Mean = 15, Variance = 20, SKewness = 1.5 and Kurtosis = 3.5 calculate the first four raw moments. (Note- Please include as much detailed solution/steps in the solution to understand, Thank you!)arrow_forwardNumerical anaarrow_forwardDon't use chatgpt answer will upvote Already got wrong chatgpt answer .arrow_forward
- Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin HarcourtGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
- College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning