Question
In: Statistics and Probability
Suppose that the sample unemployment rate for those aged 25–60 is 8% based on a survey...
Suppose that the sample unemployment rate for those aged 25–60 is 8% based on a survey of 150 people, while the unemployment rate for those aged 16–24 is 12% based on a survey of 100 people.
(a) Form a 90% confidence interval for the difference between the two population unemployment rates.
(b) Construct a test statistic to test the null hypothesis that the two population rates are the same against the alternative hypothesis that the rate is higher in for those aged 16–24, and report the associated P-value.
Solutions
orchestra answered 1 year agoRelated Solutions
6. Suppose that the sample unemployment rate for those aged 25–60 is 8% based on a...
6. Suppose that the sample unemployment rate for those
aged 25–60 is 8% based on a survey of 150 people, while the
unemployment rate for those aged 16–24 is 12% based on a survey of
100 people.
(a) Form a 90% confidence interval for the difference
between the two population unemployment rates.
(b) Construct a test statistic to test the null
hypothesis that the two population rates are the same against the
alternative hypothesis that the rate is higher in...
Suppose that the sample proportion for the U.S. population aged between 25 and 34 years that...
Suppose that the sample proportion for the U.S. population aged
between 25 and 34 years that has a Bachelors’s degree or higher is
.35. Further suppose that this estimate came from a survery of 1282
people. (a) What are the end points of a 90% confidence interval
estimate for the population proportion? (Round to 2 digits after
the decimal place.) [ , ] (b) What are the end points of a 95%
confidence interval estimate for the population proportion? (Round...
Suppose the economy produces real GDP of $60 billion when unemployment is at its natural rate.
5. The slope and position of the long-run aggregate supply curve Suppose the Fed doubles the growth rate of the quantity of money in the economy. In the long run, the increase in money growth will change which of the following? Check all that apply. The inflation rate The quantity of physical capital The size of the labor force The price level Suppose the economy produces real GDP of $60 billion when unemployment is at its natural rate. Use the purple points (diamond...
Suppose a random sample of size 60 is selected from a population with = 8. Find...
Suppose a random sample of size 60 is selected from a population
with = 8. Find the value of the standard error of the mean in each
of the following cases (use the finite population correction factor
if appropriate). The population size is infinite (to 2 decimals).
The population size is N = 50,000 (to 2 decimals). The population
size is N = 5,000 (to 2 decimals). The population size is N = 500
(to 2 decimals).
Suppose the unemployment rate in the United States is 10% and the structural unemployment rate is...
Suppose the unemployment rate in the United States is 10% and
the structural unemployment rate is 3% and the frictional
unemployment rate 5%. The actual Real GDP level is $12 billion and
the Natural Real GDP is $20 billion. Please answer questions 3a
through 3c below.
3a. Calculate the natural unemployment rate and the cyclical
unemployment rate for the United States. Also, please calculate the
recessionary gap or the inflationary gap using the actual Real GDP
level and the Natural...
Suppose the unemployment rate in the United States is 10% and the structural unemployment rate is...
Suppose the unemployment rate in the United States is 10% and
the structural unemployment rate is 6% and the frictional
unemployment rate is 5%. The actual Real GDP level is $ 30 billion
and the Natural Real GDP level is $27 billion. Please answer
questions 3a through 3c below.
3a. Calculate the natural unemployment rate for the United
States. Then, please calculate the Cyclical Unemployment rate and
then please calculate the recessionary gap or an inflationary gap
using the actual...
The unemployment rate of persons with a disability is typically higher than for those with no...
The unemployment rate of persons with a disability is typically
higher than for those with no disability. Recent statistics report
that this rate is 13.4%. An advocacy group in a large city located
in the southeastern region of the U.S. selected a random sample of
250 persons with a disability. What is the probability that no more
than 25 persons in this sample are unemployed? (Round to four
decimal places.)
Use the following information to find the unemployment rate. The categories do not overlap. •• Aged...
Use the following information to find the unemployment rate. The
categories do not overlap.
•• Aged 16+ years, in hospitals or jails: 30 people
•• Aged 16+ years, full-time military: 20 people
•• Aged 16+ years, part-time workers: 30 people
•• Aged 15 years and younger: 150 people
•• Aged 16+ years, not working, have not looked for work in the
last 4 weeks: 40 people
•• Aged 16+ years, not working waiting to be recalled from a
temporary job...
Suppose you are told that the current unemployment rate is above the natural unemployment rate by...
Suppose you are told that the current unemployment rate is above
the natural unemployment rate by two percentage points.
(a) Based on the information above, is there any Cyclical
unemployment in the economy? Yes or No? Please explain your
answer.
(b) Describe our current economic condition. Include in your
answer our current position on our Production Possibilities
Frontier.
7. The survey took a poll that asked 352employed people aged 25 to 40 whether they...
7. The survey took a poll that asked 352employed people aged 25
to 40 whether they used a computer at work, and 264said they did.
They alsoasked the same question of 504employed people aged 41 to
65, and 390of them said that they used a computer at work. Can you
conclude that the proportion who use a computer at work is less
among those aged 25 to 40 than among those aged 41 to 65? Use the
α= 0.05.
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