Question
In: Economics
Suppose you have data on average hourly wages of workers in Virginia (X) and Maryland (Y)....
Suppose you have data on average hourly wages of workers in Virginia (X) and Maryland (Y).
Suppose that: X = 30; s.d.(X) = 3; NX = 25; Y = 38; s.d.(Y ) = 3.5; NY = 25; Cov(X, Y ) = 0
In each of the following you must clearly outline the 3 steps of hypothesis testing Use 5% as your level of significance.
1 a. Test for the statistical significance of the sample mean for Average Hourly Wage of workers in Virginia (X).
b. Test the following hypothesis: H0 = µX = 35 HA : µX 6= 35
c. Compute the 95% confidence interval for µY . Using only this interval would you accept or reject the null hypothesis that mean of Y equals 42?
d. Test the hypothesis that mean wage of workers in Virginia is less than mean wage of workers in Maryland.
Solutions
Rahul Sunny answered 1 year agoRelated Solutions
The data file wages contains monthly values of the average hourly wages (in dol-lars) for workers...
The data file wages contains monthly values of the average
hourly wages (in dol-lars) for workers in the U.S. apparel and
textile products industry for July 1981 through June 1987.
(a) Display and interpret the time series plot for these
data.
(b) Use least squares to fit a linear time trend to this time
series. Interpret the regression output. Save the standardized
residuals from the fit for further analysis.
(c) Construct and interpret the time series plot of the
standardized...
Hourly wages at Manufacturing Plant A very from worker to worker, with an average hourly wage...
Hourly wages at Manufacturing Plant A very from worker to
worker, with an average hourly wage of $13.86, and a standard
deviation of $2.68 per hour, or σPlantA=2.68. In an attempt to
attract new employees, a newly constructed Manufacturing Plant B
claims that its employees will be paid, on average, more than than
employees at Manufacturing Plant A. Assume that the standard
deviation in hourly wages at Plant B is the same as at Plant A, or
σPlantB=2.68
(a) Choose...
The file Assign1_Data contains data on the hourly wages (Hourly Wage) of all employees of a...
The file Assign1_Data contains data on the hourly wages (Hourly
Wage) of all employees of a grocery chain in the Ottawa region.
(a) Treating this set of data as the population, use Minitab to
calculate the population mean and the population standard deviation
for the Hourly Wage variable.
(b) Examine a boxplot and histogram of the population data.
Explain if the means of all possible random samples of size 40 from
this population would form a normal distribution.
(c) Using...
Suppose we have the following data on variable X (independent) and variable Y (dependent): X Y...
Suppose we have the following data on variable X (independent)
and variable Y (dependent):
X
Y
2
70
0
70
4
130
a.) By hand, determine the simple regression equation relating Y
and X.
b.) Calculate the R-Square measure and interpret the result.
c.) Calculate the adjusted R-Square.
d.) Test to see whether X and Y are significantly related using
a test on the population correlation. Test this at the 0.05
level.
e.) Test to see whether X and Y...
Suppose we have the following data on variable X (independent) and variable Y (dependent): X Y...
Suppose we have the following data on variable X (independent)
and variable Y (dependent):
X Y
2 70
0 70
4 130
Test to see whether X and Y are significantly related using a
t-test on the slope of X. Test this at the 0.05 level.
Test to see whether X and Y are significantly related using an
F-test on the slope of X. Test this at the 0.05 level.
Suppose we have the following data on variable X (independent) and variable Y (dependent): X Y...
Suppose we have the following data on variable X (independent)
and variable Y (dependent):
X
Y
2
70
0
70
4
130
a.) By hand, determine the simple regression equation relating Y
and X.
b.) Calculate the R-Square measure and interpret the result.
c.) Calculate the adjusted R-Square.
d.) Test to see whether X and Y are significantly related using
a test on the population correlation. Test this at the 0.05
level.
e.) Test to see whether X and Y...
Suppose we have the following data on variable X (independent) and variable Y (dependent): X Y...
Suppose we have the following data on variable X (independent)
and variable Y (dependent):
X Y
2 70
0 70
4 130
By hand, determine the simple regression equation relating Y
and X.
Calculate the R-Square measure and interpret the result.
Calculate the adjusted R-Square.
Test to see whether X and Y are significantly related using a
test on the population correlation. Test this at the 0.05
level.
Test to see whether X and Y are significantly related using a...
Suppose we have the following data on variable X (independent) and variable Y (dependent): X Y...
Suppose we have the following data on variable X (independent)
and variable Y (dependent):
X
Y
2
70
0
70
4
130
(SOLVE ALL BY HAND, NOT BY USING EXCEL)
By hand, determine the simple regression equation relating Y
and X.
Calculate the R-Square measure and interpret the result.
Calculate the adjusted R-Square.
Test to see whether X and Y are significantly related using a
test on the population correlation. Test this at the 0.05
level.
Test to see whether...
(a) Suppose you are given the following x, y data pairs x 1 3 6 y...
(a) Suppose you are given the following x, y data pairs
x 1 3 6
y 5 5 8 Find the least-squares equation for these data. (Use 3
decimal places.) y hat = + x (b)
Now suppose you are given these x, y data pairs.
x 5 5 8
y 1 3 6
Find the least-squares equation for these data. (Use 3 decimal
places.) y hat = + x (c)
In the data for parts (a) and (b), did...
(a) Suppose you are given the following (x, y) data pairs. x 1 3 4 y...
(a) Suppose you are given the following (x, y)
data pairs.
x
1
3
4
y
4
3
7
Find the least-squares equation for these data (rounded to three
digits after the decimal).
ŷ = + x
(b) Now suppose you are given these (x, y) data
pairs.
x
4
3
7
y
1
3
4
Find the least-squares equation for these data (rounded to three
digits after the decimal).
ŷ = + x
(c) In the data for parts (a) and (b), did...
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