Discuss the relationship between ability bias in the estimation of the rate of return to schooling and selection bias in tests of the hypothesis that workers choose the level of schooling that maximizes the present value of earnings.
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Discuss the relationship between ability bias in the estimation of the rate of return to schooling and selection bias in tests of the hypothesis that workers choose the level of schooling that maximizes the present value of earnings.
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- Explain the law of iterated expectations?Will improving customer service result in higher stock prices for the companies providing the better service? “When a company’s satisfaction score has improved over the prior year’s results and is above the national average (currently 76.2), studies show its shares have a good chance of outperforming the broad stock market in the long run”. The following satisfaction scores of three companies for the 4th quarters of 2018 and 2019 were obtained from the American Customer Satisfaction Index. Assume that the scores are based on a poll of 70 customers from each company. Because the polling has been done for several years, the standard deviation can be assumed to equal 8 points in each case. Let 2018 be population 1. Company 2018 Score 2019 Score Rite Aid 74 77 Expedia 76 78 J.C. Penney 78 79 2d. When conducting a hypothesis test with the values given for the standard deviation, sample size, and α, how large must the increase from 2018 to 2019 be…Will improving customer service result in higher stock prices for the companies providing the better service? “When a company’s satisfaction score has improved over the prior year’s results and is above the national average (currently 76.2), studies show its shares have a good chance of outperforming the broad stock market in the long run”. The following satisfaction scores of three companies for the 4th quarters of 2018 and 2019 were obtained from the American Customer Satisfaction Index. Assume that the scores are based on a poll of 70 customers from each company. Because the polling has been done for several years, the standard deviation can be assumed to equal 8 points in each case. Let 2018 be population 1. Company 2018 Score 2019 Score Rite Aid 74 77 Can you conclude that the 2019 score for Rite Aid is above the national average of 76.2? Use α=0.05.
- The ABC Company is involved in the production and selling of consumer goods, particularly beauty products such as bath soap and shampoo and had registered a positive profit growth for the last 10 years. However, the current year seems to be different from those years as the company is expecting a decline in profit; which is estimated to be about 70% below the target. The manager now is in a dilemma … asking himself/herself “What happened, why this decline in profit?” The Manager then asked the company Accountant to give him/her the data on sales and advertising cost for the last 10 years – he/she wants these data to determine whether the company can live without advertising, as advertising cost happens to be substantial. Justify your answer by doing as step-by-step procedure in Correlation Analysis using a 0.05 level of significance. The data are as follows –2. Will improving customer service result in higher stock prices for the companies providing the better service? “When a company’s satisfaction score has improved over the prior year’s results and is above the national average (currently 76.2), studies show its shares have a good chance of outperforming the broad stock market in the long run”. The following satisfaction scores of three companies for the 4th quarters of 2018 and 2019 were obtained from the American Customer Satisfaction Index. Assume that the scores are based on a poll of 70 customers from each company. Because the polling has been done for several years, the standard deviation can be assumed to equal 8 points in each case. Let 2018 be population 1. Company 2018 Score 2019 Score Rite Aid 74 77 For Rite Aid, is the increase in the satisfaction score from 2018 to 2019 statistically significant? Use α=0.05. What can you conclude?Pursuing an MBA is a major personal investment. Tuition and expenses associated with business school programs are costly, but the high costs come with hopes of career advancement and high salaries. A prospective MBA student would like to examine the factors that impact starting salary upon graduation and decides to develop a model that uses program per-year tuition as a predictor of starting salary. Data were collected for 37 full-time MBA programs offered at private universities. The data are stored in the accompanying table Use the least-squares method to determine the regression coefficients b0 and b1.
- Financial analysts commonly use an approach called value at reisk to compare the risk of stocks or portfolios. The analyst tries to estimate a low percentile (such as the 5th or 10th percentile) of the forecasted range of possible returns for a given stock or portfolio and that percentile is used as a rough measure of the worst-case senario for that investment. Suppose an analyst is trying to compare two investments: Investment A has a forecasted average return of $10 million with a standard deviation of $3 million, and Investment B has a forecasted average return of $12 million with a standard deviation of $5 million. The analyst wants to avoid risk and invest in the one that has a larger 5 percentile for the return distribution. Which investment should he/she make?The problem facing a manager is to assess the impact of factors on full-time (FT) job growth. Specifically, the manager is interest in the impact of total worldwide revenues and full-time voluntary turnover on the number of full-time jobs added in a year. Data were collected from a sample of 20 "best companies to work for." The data includes the total number of full-time jobs added in the past year, total worldwide revenue (in Smillions), and the full-time voluntary turnover (%). Use the accompanying data to complete parts (a) through (d) below. E Click the icon to view the data table. a. State the multiple regression equation. Let X, represent the Total Worldwide Revenues (Smillions) and let X, represent the FT Voluntary Tumover (%). (Round the constant and Xg-coeficient to the nearest integer as needed. Round the X-coeficient to four decimal places as needed.) b. Interpret the meanings of the slopes b, and bz in this problem. Choose the correct answer below. OA. The slopes b, and bz…The problem facing a manager is to assess the impact of factors on full-time (FT) job growth. Specifically, the manager is interest in the impact of total worldwide revenues and full-time voluntary turnover on the number of full-time jobs added in a year. Data were collected from a sample of 20 "best companies to work for." The data includes the total number of full-time jobs added in the past year, total worldwide revenue (in Smillions), and the full-time voluntary turnover (%). Use the accompanying data to complete parts (a) through (d) below. E Click the icon to view the data table. a. State the multiple regression equation. Let X, represent the Total Worldwide Revenues (Smillions) and let X, represent the FT Voluntary Turnover (%). (Round the constant and X,-coefficient to the nearest integer as needed. Round the X,;-coefficient to four decimal places as needed.) b. Interpret the meanings of the slopes b, and b, in this problem. Choose the correct answer below. - X Data of Best…
- Government economic studies reveal that young adults, not middle-aged or older adults, are having the most difficult time in today’s economy. Although the nation’s labor market shows a decline in the unemployment rate, the percentage of young adults, ages 18 to 24, currently employed (54 percent) is at the lowest level since the government data collection began in 1948. If you were working for a national survey organization doing a general public survey of young adults and older adults, what topics and questions would you design into your survey to elaborate on this finding?In predicting a person’s income, identify two possible quantitative predictor variables and two possible qualitative predictor variables.Will improving customer service result in higher stock prices for the companies providing the better service? "When a company's satisfaction score has improved over the prior year's results and is above the national average (currently 75.7), studies show its shares have a good chance of outperforming the broad stock market in the long run." The following satisfaction scores of three companies for the 4th quarters of two previous years were obtained from the American Customer Satisfaction Index. Assume that the scores are based on a poll of 67 customers from each company. Because the polling has been done for several years, the standard deviation can be assumed to equal 6 points in each case. Company Year 1 Score Year 2 Score Rite Aid 73 75 Expedia 72 75 J.C. Penney 73 74 a. For Rite Aid, is the increase in the satisfaction score from year 1 to year 2 statistically significant? Use a = .05 and null hypothesis is Ho : H1 – 42 <0. What can you conclude? z value (to 2 decimals) p-value (to…