Concept explainers
Ranking PhD programs in economics. Thousands of students apply for admission to graduate schools in economics each year with the intention of obtaining a PhD. The Southern Economic Journal (April 2006) published a guide to graduate study in economics by ranking the PhD programs at 129 colleges and universities. Each program was evaluated according to the number of publications published by faculty teaching in the PhD program and by the quality of the publications. Data obtained from the Social Science Citation Index (SSCI) were used to calculate an overall I productivity score for each PhD program. The mean and standard deviation of these 129 productivity scores were then used to compute a z-score for each economics program. Harvard University had the highest z-score (z = 5.08) and, hence, was the top-ranked school: Howard University was ranked last because it had the lowest z-score (z = –0.81). The data (z- scores) for all 129 economic programs are saved in the data file.
- a. Interpret the z-score for Harvard University.
- b. Interpret the z-score for Howard University.
- c. The authors of the Southern Economic Journal article note that “only 44 of the 129 schools have positive z-scores, indicating that the distribution of overall productivity is skewed to the right.” Do you agree? (Check your answer by constructing a histogram for the z-scores in the file.)
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Statistics for Business and Economics (13th Edition)
- A particular magazine identified the top accounting firms in 8 geographic regions across a certain country. Even though all 8 regions reported growth in the past year, region A and region B reported the highest combined growths, with 17% and 25%, respectively. A characteristic description of the accounting firms in these regions included the number of partners in the firm. The accompanying table contains data on the number of partners. Complete parts (a) through (d) below. E Click on the icon to view the data table. IMPORTANT NOTE: In all of these questions, there are 2 possible ratios A/B and B/AI Our convention is to always assume that the larger variance is in the numerator (i.e., on top). The correct answer will always be found in this fashion. Similarly, in questions about a critical value, we shall consider the right (upper) tail. a. At the 0.01 level of significance, is there evidence of a difference in the variability in numbers of partners for region A accounting firms and…arrow_forward2.30 Gross domestic product. The Economy is an annual publication by the Government of Newfoundland and Labrador (https://www.gov.nl.ca/) on the region's eco- nomic performance. From data provided by Statistics Canada Department of Finance, The Economy 2020 reported the estimated Gross Domestic Product (GDP) (in $ millions) in 2018 for the following 12 indus- tries: the services producing sector, wholesale trade, retail trade, transportation and warehousing, finance, insurance, real estate & business support services, pro- fessional, scientific, & technical services, educational services, health care & social assistance, information, culture & recreation, accommodation & food services, public administration, and other services. The data is listed in the accompanying table. In this data, GDP is expressed at basic prices, measuring payments made to the owners of factor inputs in production. This differs from GDP at market prices. The difference is attribut- able to taxes less subsidies…arrow_forwardIs it possible to predict the annual number of business bankruptcies by the number of firm births (business starts) in the United States? The following data published by the U.S. Small Business Administration, Office of Advocacy, are pairs of the number of business bankruptcies (1,000s) and the number of firm births (10,000s) for a six-year period. Business Bankruptcies (1,000) 34.3 Firm Births (10,000) 58.1 35.0 55.4 38.5 57.0 40.1 58.5 35.5 57.4 37.9 58.0 i) Based on the output given, use these data to develop the equation of the regression model to predict the number of business bankruptcies by the number of firm births. ii) Explain the values of r and r. iii) Predict the number of business bankruptcies if the number of firm births is 54.0 (10,000s). iv) Do the data support the existence of a linear relationship between the number of firm births and the number of business bankruptcies? Test using a = 0.05. OUTPUT Model Summary Std. Error of the Estimate Adusted R Model R R Square…arrow_forward
- A real estate major collected information on some recent local home sales. The first 6 lines of the database appear in the accompanying table. The columns correspond to the house identification number, the community name, the zip code, the number of acres of the property, the year the house was built, the market value, and the size of the living area (in square feet). Do the data appear to have come from a designed survey or experiment? What concerns might you have about drawing conclusions from this data set? E Click the icon to view the data table. Do the data appear to have come from a designed survey or experiment? O A. It is not clear if the data were obtained from an experiment. They are certainly not from a survey. O B. It is not clear if the data were obtained from a survey. They are certainly not from an experiment. O C. It is not clear if the data were obtained from a survey or an experiment. O D. The data were certainly not obtained from survey or an experiment. What…arrow_forwardWhich of the following refers to the process of listing data in their original form in which they are collected? a. Primary data b. Raw data c. Secondary data d. Qualitative dataarrow_forwardA social media app is conducting a study on the amount of time users spend on the app. They collect the following variables. Age Years: How old they are in years? Income: Monthly Income Location: What country do they live in? Device: Do they use an iPhone, Samsung, other? Service: Who provides their mobile phone service? For example: T-Mobile, At&t, Verizon, ect Hours: How many hours do they spend on the app per week. A) Which variable could the research construct a one proportion z-interval for? B) The social media app just launched a new algorithm that suggest content in an effort to increase the amount of time the user spends on the app. The researchers want to use the survey results to see if there is statistically significant evidence that on average users spend more than 10 hours per week on the social media app. The researchers found in their sample of 44 users, the mean hours spent on the app is 10.5 hours with a standard deviation of 5.675 hours. Which type of hypothesis test…arrow_forward
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