Pearson eText for Statistical Reasoning for Everyday Life -- Instant Access (Pearson+)
5th Edition
ISBN: 9780137561544
Author: Jeffrey Bennett, William Briggs
Publisher: PEARSON+
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Textbook Question
Chapter 2.4, Problem 22E
Pizza Cost and Subway Fare. The “pizza connection” refers to the observation that in New York City, the cost of a slice of pizza is always about the same as the subway fare. In Exercises 21–24, use the CPI values from Table 2.2 and the data in the following table.
22. Cost of Pizza in 2014. Using the CPI values from the above table and Table 2.2, determine what a slice of pizza should have cost in 2014 if it cost $1.35 in 1995 and prices had risen with the CPI. What does this tell you about how actual pizza prices changed compared to the CPI?
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Students have asked these similar questions
A survey of 581 citizens found that 313 of them favor a new bill introduced by the city.
We want to find a 95% confidence interval for the true proportion of the population who favor the bill.
What is the lower limit of the interval? Enter the result as a decimal rounded to 3 decimal digits.
Your Answer:
2. The SMSA data consisting of 141 observations on 10 variables is fitted by the model
below:
1
y = Bo+B1x4 + ẞ2x6 + ẞ3x8 + √1X4X8 + V2X6X8 + €.
See Question 2, Tutorial 3 for the meaning of the variables in the above model.
The following results are obtained:
Estimate Std. Error t value Pr(>|t|)
(Intercept) 1.302e+03 4.320e+02 3.015 0.00307
x4
x6
x8
x4:x8
x6:x8
-1.442e+02
2.056e+01 -7.013 1.02e-10
6.340e-01 6.099e+00 0.104 0.91737
-9.455e-02 5.802e-02 -1.630
0.10550
2.882e-02 2.589e-03 11.132
1.673e-03 7.215e-04 2.319
F)
x4
1
3486722
3486722
17.9286 4.214e-05
x6
1
14595537
x8
x4:x8
x6:x8
1
132.4836 < 2.2e-16
1045693
194478
5.3769 0.02191
1 1198603043 1198603043 6163.1900 < 2.2e-16
1 25765100 25765100
1045693
Residuals 135 26254490
Estimated variance matrix
(Intercept)
x4
x6
x8
x4:x8
x6:x8
(Intercept)
x4
x6
x8
x4:x8
x6:x8
0.18875694
1.866030e+05 -5.931735e+03 -2.322825e+03 -16.25142055 0.57188953
-5.931735e+03 4.228816e+02 3.160915e+01 0.61621781 -0.03608028 -0.00445013
-2.322825e+03…
In some applications the distribution of a discrete RV, X resembles the Poisson distribution except that 0 is not a possible value of X. Consider such a RV with PMF
where 1 > 0 is a parameter, and c is a constant.
(a) Find the expression of c in terms of 1.
(b) Find E(X).
(Hint: You can use the fact that, if Y ~ Poisson(1), the E(Y) = 1.)
Chapter 2 Solutions
Pearson eText for Statistical Reasoning for Everyday Life -- Instant Access (Pearson+)
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