The estimation of the median income of Hispanic household and that of a white household in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000 − 2013 z ( t , x ) = 44 , 200 − 330 t + 17 , 500 x + 40 x t where z ( t , x ) = median household income , t = year ( t = 0 represents 2000 ) and x = { 0 if the income was a Hispanic household 1 if the income was for a white household .

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Answer 1

Question

Chapter 8.2, Problem 51E

(a)

To determine

To calculate: The estimation of the median income of Hispanic household and that of a white household in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(b)

To determine

To calculate: How fast the median income for a Hispanic household and white household is increasing in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(c)

To determine

Whether the answers in part (b) suggest that the income gap between white and Hispanic households was widening or narrowing during the given period when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(d)

To determine

What does the coefficient of xt in the formula for z(t,x) represent in terms of the income gap when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013.

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

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Answer 2

Question

Chapter 8.2, Problem 51E

(a)

To determine

To calculate: The estimation of the median income of Hispanic household and that of a white household in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(b)

To determine

To calculate: How fast the median income for a Hispanic household and white household is increasing in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(c)

To determine

Whether the answers in part (b) suggest that the income gap between white and Hispanic households was widening or narrowing during the given period when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(d)

To determine

What does the coefficient of xt in the formula for z(t,x) represent in terms of the income gap when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013.

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

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Answer 3

Question

Chapter 8.2, Problem 51E

(a)

To determine

To calculate: The estimation of the median income of Hispanic household and that of a white household in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(b)

To determine

To calculate: How fast the median income for a Hispanic household and white household is increasing in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(c)

To determine

Whether the answers in part (b) suggest that the income gap between white and Hispanic households was widening or narrowing during the given period when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(d)

To determine

What does the coefficient of xt in the formula for z(t,x) represent in terms of the income gap when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013.

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

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Answer 4

Question

Chapter 8.2, Problem 51E

(a)

To determine

To calculate: The estimation of the median income of Hispanic household and that of a white household in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(b)

To determine

To calculate: How fast the median income for a Hispanic household and white household is increasing in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(c)

To determine

Whether the answers in part (b) suggest that the income gap between white and Hispanic households was widening or narrowing during the given period when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(d)

To determine

What does the coefficient of xt in the formula for z(t,x) represent in terms of the income gap when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013.

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

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Answer 5

Chapter 8.2, Problem 51E

(a)

To determine

To calculate: The estimation of the median income of Hispanic household and that of a white household in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(b)

To determine

To calculate: How fast the median income for a Hispanic household and white household is increasing in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(c)

To determine

Whether the answers in part (b) suggest that the income gap between white and Hispanic households was widening or narrowing during the given period when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

(d)

To determine

What does the coefficient of xt in the formula for z(t,x) represent in terms of the income gap when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013.

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

Answer 6

Chapter 8.2, Problem 51E

(a)

To determine

To calculate: The estimation of the median income of Hispanic household and that of a white household in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

Answer 7

Chapter 8.2, Problem 51E

(a)

To determine

To calculate: The estimation of the median income of Hispanic household and that of a white household in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

Answer 8

(b)

To determine

To calculate: How fast the median income for a Hispanic household and white household is increasing in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

Answer 9

(b)

To determine

To calculate: How fast the median income for a Hispanic household and white household is increasing in 2010 when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013 z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

Answer 10

(c)

To determine

Whether the answers in part (b) suggest that the income gap between white and Hispanic households was widening or narrowing during the given period when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

Answer 11

(c)

To determine

Whether the answers in part (b) suggest that the income gap between white and Hispanic households was widening or narrowing during the given period when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

Answer 12

(d)

To determine

What does the coefficient of xt in the formula for z(t,x) represent in terms of the income gap when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013.

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

Answer 13

(d)

To determine

What does the coefficient of xt in the formula for z(t,x) represent in terms of the income gap when the following model is based on data on the median incomes of Hispanic and white households in the United States for the period 2000−2013.

z(t,x)=44,200−330t+17,500x+40xt where z(t,x)=median household income, t=year (t=0 represents 2000) and x={0 if the income was a Hispanic household1 if the income was for a white household.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 8.1 - For each function in Exercises 14, evaluate (a)...Ch. 8.1 - For each function in Exercises 14, evaluate (a)...Ch. 8.1 - For each function in Exercises 14, evaluate (a)...Ch. 8.1 - For each function in Exercises 14, evaluate (a)...Ch. 8.1 - For each function in Exercises 5-8, evaluate (a)...Ch. 8.1 - Prob. 6E Ch. 8.1 - For each function in Exercises 5-8, evaluate (a)...Ch. 8.1 - For each function in Exercises 5-8, evaluate (a)...Ch. 8.1 - Prob. 9E Ch. 8.1 - Prob. 10E

Solution Summary: The author calculates the median incomes of Hispanic and white households in the United States for the period 2000-2013.

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