A study estimates the mean annual family income for families living in public housing in Chicago....

A study estimates the mean annual family income for families living in public housing in Chicago. For a random sample of 30 families, the annual incomes (in hundreds of dollars) are here:

133 140 127 150 133 114 128 142 123 172 146 110 135 136 158 120 189 106 144 134 161 143 170 120 142 150 174 109 162 129

(a) Produce appropriate plots and predict on the shape of the population distribu- tion?

(b) Find and interpret point estimates of μ and σ, the population mean and standard deviation.

(c) Construct and interpret a 95% confidence interval for μ.

can you please part a briefly

Expert Solution

orchestra answered 1 year ago

Chicago Families: A survey is taken to estimate the mean annual family income for families living...

Chicago Families: A survey is taken to estimate the mean annual family income for families living in public housing in Chicago. From a random sample of 30 families, the annual incomes (in hundreds of dollars) are as follows 83 90 77 100 83 64 78 92 73 122 96 60 85 86 108 70 139 56 94 84 111 93 120 70 92 100 124 59 112 79 a) Construct and interpret a 95% confidence interval for b) Construct a...

A survey is taken to estimate the mean annual family income for families living in public...

A survey is taken to estimate the mean annual family income for families living in public housing in Chicago. For a random sample of 29 families, the annual incomes (in hundreds of dollars) are as follows: 90 77 100 83 64 78 92 73 122 96 60 85 86 108 70 139 56 94 84 111 93 120 70 92 100 124 59 112 79 a. Construct a box plot of the incomes. What do you predict about the shape...

Case Study: Housing NSW Housing NSW is an agency of the Department of Family and Community...

Case Study: Housing NSW Housing NSW is an agency of the Department of Family and Community Services that is responsible for the provision and management of public housing services with the aim to prevent homelessness in the state of New South Wales, Australia. Housing NSW provides a range of services including public and community housing, housing for people of Aboriginal and Torres Strait Islander backgrounds, support services for people with special needs linked to government and non-government agencies, private rental...

The amount of income spent on housing is an important component of the cost of living....

The amount of income spent on housing is an important component of the cost of living. The total costs of housing for homeowners might include mortgage payments, property taxes, and utility costs (water, heat, electricity). An economist selected a sample of 20 homeowners in New England and then calculated these total housing costs as a percent of monthly income, five years ago and now. The information is reported below. At the .05 significance level, is it reasonable to conclude the...

1) The same study provides the following estimates of income elasticity of demand for public transportation....

1) The same study provides the following estimates of income elasticity of demand for public transportation. Income elasticity Short-run -0. 67 Long-run -0.90 e. Is public transportation a normal good or an inferior good? How can you tell? f. How would you interpret the difference between the short-run and long-run income elasticities? What does this difference tell us about consumers’ behavior? Explain. g. If there’s a recession, and consumers’ incomes fall by 10%, on average, what do you think...

Suppose that the relation of family income to consumption is linear. Of those families in the...

Suppose that the relation of family income to consumption is linear. Of those families in the 90th percentile of income, what proportion would you expect to be at or above the 90th percentile of consumption. about 50% less than 50% greater than 50% And what about this? Suppose that the relation of family income to consumption is linear. Of those families in the 50th percentile of income, what proportion would you expect to be at or above the 50th percentile...

The variables annual savings and annual income have been analyzed in a sample of families in...

The variables annual savings and annual income have been analyzed in a sample of families in a community, both measured in thousands of dollars. The data obtained has been the following: Savings 1.9, 1.8, 2.0, 2.1, 2.3, 2.0, 2.2, 2.3, 2.5, 2.4 Income 20.5, 20.8, 21.2, 21.7, 22.1, 22.3, 22.2, 22.6, 23.1, 23.5 1) Obtain the adjusted model that explains saving as a function of income: saving = f (income). 2) Interpret the regression coefficient 3) Interpret the coefficient of...

Christa estimates that her revised annual living expenses, including a new studio and apartment, will average...

Christa estimates that her revised annual living expenses, including a new studio and apartment, will average ¤132,500 (excluding J¨urgen’s educational costs). If necessary, she could combine her apartment and studio to reduce spending by ¤32,500. She does not want her financial security to be dependent on further gifting from her parents and is pleased that, after the sale of IngerMarine, she will be able to meet her new living expenses with proceeds from art sales (¤50,000) and the expected total...

What are some specific challenges low-income families or those living in poverty face? How can these...

What are some specific challenges low-income families or those living in poverty face? How can these challenges affect the delivery of human services and our relationship with clients? Why is it important for human services professionals to be aware of class bias or classism?

If the annual income of the family in one of the regions of Kingdom of Saudi...

If the annual income of the family in one of the regions of Kingdom of Saudi Arabia follows normal distribution, its Mean ( ) 100 thousand riyals, and its Variance is 1600 find the percentage of households whose income is over than 50 thousand riyal

Question