Find the mean, standard deviation, minimum, and maximum of these three variables and interpret briefly your...

Find the mean, standard deviation, minimum, and maximum of these three variables and interpret briefly your findings

Test if there is a difference between the two political party affiliation of the administration in terms of the three variables.

Presidential Administrations, 1901-2000		2007
Annual Data Set
PRESIDENT/TERM/PARTY	YEAR	GNP	UNMP	INF	PARTY (R: Republican, D: Democrat)
McKinley-Roosevelt	1901	11.429	4.0	0.000	R
(1901-1904)	1902	0.924	3.7	4.000	R
Republican	1903	4.993	3.9	3.846	R
	1904	8.694	5.4	0.000	R
Roosevelt	1905	-2.433	4.3	0.000	R
(1905-1908)	1906	11.621	1.7	0.000	R
Republican	1907	1.593	2.8	3.704	R
	1908	-8.259	8.0	-3.571	R
Taft	1909	16.577	5.1	0.000	R
(1909-1912)	1910	2.822	5.9	3.704	R
Republican	1911	2.596	6.7	0.000	R
	1912	5.662	4.6	3.571	R
Wilson	1913	0.922	4.3	2.414	D
(1913-1916)	1914	-4.415	7.9	1.347	D
Democrat	1915	-0.875	8.5	0.997	D
	1916	7.882	5.1	7.566	D
Wilson	1917	0.666	4.6	17.431	D
(1917-1920)	1918	12.285	1.4	17.448	D
Democrat	1919	-3.552	1.4	14.856	D
	1920	-4.380	5.2	15.830	D
Harding-Coolidge	1921	-8.706	11.7	-10.667	R
(1921-1924)	1922	15.794	6.7	-6.343	R
Republican	1923	12.103	2.4	1.793	R
	1924	-0.246	5.0	0.196	R
Coolidge	1925	8.399	3.2	2.539	R
(1925-1928)	1926	5.911	1.8	0.952	R
Republican	1927	-0.108	3.3	-1.887	R
	1928	0.579	4.2	-1.346	R
Hoover	1929	6.652	3.2	0.000	R
(1929-1932)	1930	-8.961	8.7	-2.534	R
Republican	1931	-6.465	15.9	-8.800	R
	1932	-13.338	23.6	-10.307	R
Roosevelt	1933	-1.310	24.9	-5.134	D
(1933-1936)	1934	10.925	21.7	3.351	D
Democrat	1935	8.964	20.1	2.494	D
	1936	12.974	16.9	0.973	D
Roosevelt	1937	5.376	14.3	3.614	D
(1937-1940)	1938	-3.605	19.0	-1.860	D
Democrat	1939	8.125	17.2	-1.422	D
	1940	8.491	14.6	0.962	D
Roosevelt	1941	17.126	9.9	5.000	D
(1941-1944)	1942	18.700	4.7	10.658	D
Democrat	1943	16.272	1.9	6.148	D
	1944	7.987	1.2	1.737	D
Roosevelt-Truman	1945	-1.147	1.9	2.277	D
(1945-1948)	1946	-10.882	3.9	8.534	D
Democrat	1947	-1.033	3.9	14.359	D
	1948	4.301	3.8	7.773	D
Truman	1949	-0.801	5.9	-0.971	D
(1949-1952)	1950	8.898	5.3	0.980	D
Democrat	1951	7.696	3.3	7.906	D
	1952	3.745	3.0	2.185	D
Eisenhower	1953	4.533	2.9	0.755	R
(1953-1956)	1954	-0.656	5.5	0.373	R
Republican	1955	7.149	4.4	-0.372	R
	1956	2.002	4.1	1.493	R
Eisenhower	1957	1.909	4.3	3.309	R
(1957-1960)	1958	-1.109	6.8	2.847	R
Republican	1959	7.384	5.5	0.692	R
	1960	2.430	5.5	1.718	R
Kennedy-Johnson	1961	2.333	6.7	1.014	D
(1961-1964)	1962	6.114	5.5	1.003	D
Democrat	1963	4.281	5.7	1.325	D
	1964	5.839	5.2	1.307	D
Johnson	1965	6.364	4.5	1.613	D
(1965-1968)	1966	6.424	3.8	2.857	D
Democrat	1967	2.546	3.8	3.086	D
	1968	4.677	3.6	4.192	D
Nixon	1969	2.981	3.5	5.460	R
(1969-1972)	1970	0.111	4.9	5.722	R
Republican	1971	3.365	5.9	4.381	R
	1972	5.498	5.6	3.210	R
Nixon-Ford	1973	6.006	4.9	6.220	R
(1973-1976)	1974	-0.504	5.6	11.036	R
Republican	1975	-0.684	8.5	9.128	R
	1976	5.521	7.7	5.762	R
Carter	1977	4.751	7.1	6.503	D
(1977-1980)	1978	5.312	6.1	7.591	D
Democrat	1979	3.163	5.8	11.350	D
	1980	-0.354	7.1	13.499	D
Reagan	1981	2.122	7.6	10.316	R
(1981-1984)	1982	-2.262	9.7	6.161	R
Republican	1983	3.921	9.6	3.212	R
	1984	6.877	7.5	4.317	R
Reagan	1985	3.258	7.2	3.561	R
(1985-1988)	1986	2.890	7.0	1.859	R
Republican	1987	2.854	6.2	3.650	R
	1988	3.893	5.5	4.137	R
Bush	1989	3.355	5.3	4.818	R
(1989-1992)	1990	1.338	5.6	5.403	R
Republican	1991	-1.009	6.8	4.208	R
	1992	2.635	7.5	3.010	R
Clinton	1993	2.438	6.9	2.994	D
(1993-1996)	1994	3.294	6.1	2.561	D
Democrat	1995	2.423	5.6	2.834	D
	1996	3.376	5.4	2.953	D
Clinton	1997	3.678	4.9	2.294	D
(1997-2000)	1998	2.400	4.9	2.243	D
Democrat	1999	2.000	5.1	2.194	D
	2000	2.000	5.3	2.266	D
Bush (2001-2008)	2001	1.870	4.7	1.600	R
Republican	2002	0.400	5.8	2.400	R
	2003	1.000	6.0	1.900	R
	2004	1.800	5.5	3.300	R
	2005	2.000	5.1	3.400	R
	2006	1.700	4.6	2.500	R
	2007	0.300	4.6	4.100	R

Expert Solution

Since the p-value is 0.000<0.01, we reject the null hypothesis. That is, the mean vectors of the the three variables are not the same. So there is a between the two political party affiliation of the administration in terms of the three variables.

orchestra answered 1 year ago

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