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Concept explainers
a.
Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.
b.
Check whether it is appropriate to use the bootstrap confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.
c.
Obtain the 95% confidence interval for the proportion of residential properties successfully sold at auction and interpret it.
d.
Check whether the success rate for properties sold at auction throughout Country U during one stretch a year earlier (72%) fall within the bootstrap confidence interval in part (c) and explain what does this indicate.
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Chapter 9 Solutions
Introduction To Statistics And Data Analysis
- In February 2021, the Chicago Tribune reported:“The overdose epidemic that has ravaged Chicago has not spared the nearby suburbs, some of which have death rates comparable to anything seen in the city, according to a report released this week by the Cook County Department of Public Health. ZIP codes in the towns of Worth, Broadview, Maywood, and Forest Park, areas that “have substantially lower median household incomes and higher poverty rates,” have been especially hard-hit, the report said.”In the article, they claimed that lower incomes were associated with higher overdose death rates and that overdose death rates are increasing over time. The data you have been analyzing wasn’t focused on Chicago, obviously. But do your results support the general gist of the statistical argument being made in this Tribune excerpt? Please address:• Do overdose death rates appear to be associated with per capita income (use scatterplot)?• Do overdose death rates appear to be increasing over time…arrow_forwardDefine the term scatterplot?arrow_forwardA poll uses responses to several questions to calculate a "Happiness" index that measures overall happiness. An article included the happiness index for the 7 years between 2008 and 2016. Also included in the article were the percentages of people who responded "somewhat agree" or "strongly agree" to the following statements. Statement 1 (happy with life) 1: At this time, I'm generally happy with my life. Statement 2 (won't benefit): I won't get much benefit from the things that I do anytime soon. Year 2008 2009 2010 2011 2013 2015 2016 Happiness Index 32 36 34 34 32 35 30 Happy with Life Statement (percentage somewhat or strongly agree) 78 83 78 81 79 82 82 Won't Benefit Statement (percentage somewhat or strongly agree) 35 37 35 37 43 35 42 (a) Calculate the value of the correlation coefficient for Happiness index and the response to the Happy with life statement. (Round your answer to four decimal places.) (b) Calculate the value of the correlation coefficient for Happiness index and…arrow_forward
- In 2011 home prices and mortgage rates dropped so low that in a number of cities the monthly cost of owning a home was less expensive than renting. The following data show the average asking rent for 10 markets and the monthly mortgage on the median priced home (including taxes and insurance) for 10 cities where the average monthly mortgage payment was less than the average asking rent (The Wall Street Journal, November 26–27, 2011).Click on the datafile logo to reference the data. Enter negative values as negative numbers. a. Develop the estimated regression equation that can be used to predict the monthly mortgage given the average asking rent (to 2 decimals).The regression equation is:Mortgage ($) = + Rent ($)arrow_forwardA poll uses responses to several questions to calculate a "Happiness" index that measures overall happiness. An article included the happiness index for the 7 years between 2008 and 2016. Also included in the article were the percentages of people who responded "somewhat agree" or "strongly agree" to the following statements. Statement 1 (happy with life) 1: At this time, I'm generally happy with my life. Statement 2 (won't benefit): I won't get much benefit from the things that I do anytime soon. Year HappinessIndex Happy withLife Statement(percentagesomewhat orstrongly agree) Won't BenefitStatement(percentagesomewhat orstrongly agree) 2008 32 78 35 2009 34 81 39 2010 34 78 35 2011 34 81 37 2013 30 77 45 2015 31 78 39 2016 32 84 40 (a) Calculate the value of the correlation coefficient for Happiness index and the response to the Happy with life statement. (Round your answer to four decimal places.) (b) Calculate the value of the correlation coefficient…arrow_forwardA poll uses responses to several questions to calculate a "Happiness" index that measures overall happiness. An article included the happiness index for the 7 years between 2008 and 2016. Also included in the article were the percentages of people who responded "somewhat agree" or "strongly agree" to the following statements. Statement 1 (happy with life) 1: At this time, I'm generally happy with my life. Statement 2 (won't benefit): I won't get much benefit from the things that I do anytime soon. Year 2008 2009 2010 2011 2013 2015 2016 Happiness Index 34 32 36 32 34 33 34 Happy with Life Statement (percentage somewhat or strongly agree) 80 79 80 79 81 80 86 Won't Benefit Statement (percentage somewhat or strongly agree) 33 41 33 39 41 37 38 (a) Calculate the value of the correlation coefficient for Happiness index and the response to the Happy with life statement. (Round your answer to four decimal places.) (b) Calculate the value of the correlation coefficient for Happiness index and…arrow_forward
- A poll uses responses to several questions to calculate a "Happiness" index that measures overall happiness. An article included the happiness index for the 7 years between 2008 and 2016. Also included in the article were the percentages of people who responded "somewhat agree" or "strongly agree" to the following statements. Statement 1 (happy with life) 1: At this time, I'm generally happy with my life. Statement 2 (won't benefit): I won't get much benefit from the things that I do anytime soon. Year 2008 2009 2010 2011 2013 2015 2016 Happiness Index 32 34 34 36 32 35 30 Happy with Life Statement (percentage somewhat or strongly agree) 78 81 78 83 79 82 82 Won't Benefit Statement (percentage somewhat or strongly agree) 35 39 35 35 43 35 42 (a) Calculate the value of the correlation coefficient for Happiness index and the response to the Happy with life statement. (Round your answer to four decimal places.) (b) Calculate the value of the correlation coefficient for Happiness index and…arrow_forwardAn insurance company hires an actuary to determine whether the number of hours of safety drivingclasses can be used to predict the number of driving accidents for each driver. Identify theexplanatory variable, if any.arrow_forwardExplain why the data that come from the BBS are considered to be indices (not true population estimates) and give an example or describe how the resulting data can be useful in understanding, conserving, or managing bird populations.arrow_forward
- Each week the Wall Street Journal and Harris Interactive track the opinions and experiences of college recruiters for large corporations and summarize the results in the Business School Survey. Data have been gathered for the top 10 business schools from a list of 76 and is summarized below. Please complete the questions below and upload this document and your EXCEL document to the portal in CANVAS. School Ranking Enrollment (# of full-time students) Annual Tuition ($) Mean GMAT % with Job Offer Average Salary ($) Dartmouth 1 503 38,400 704 89 119,800 Michigan 2 1873 33,076 690 91 105,986 Carnegie Mellon 3 661 38,800 691 93 95,531 Northwestern 4 2650 38,844 700 94 117,060 Yale 5 468 36,800 696 86 104,018 Pennsylvania 6 1840 40,458 716 92 117,471 California Berkeley 7 1281 21,512 701 92 112,699 Columbia 8 1796 38,290 709 95 126,319 North…arrow_forwardBlack Friday is a colloquial term for the Friday following Thanksgiving Day in the United States. Many stores offer highly promoted sales on Black Friday and open very early, or even on Thanksgiving Day. Black Friday has routinely been the busiest shopping day of the year in the United States since at least 2005. According to a finder.com survey from September 2021, the site predicts that this year 69% of Americans aged 18-24 are going to shop the sales on Black Friday. Data were collected from a random sample of Americans aged 18-24. 0 means "will not shop on Black Friday and 1 means "will shop on Black Friday". Using sigma = 0.05, is there sufficient evidence to conclude that finder.com is incorrect and that the proportion of Americans aged 18-24 will be different than 69%? Conduct a full hypothesis test by following the steps below. b) Define the population parameter in context in one sentence. c) State the null and alternative hypotheses using correct notation. d)…arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
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