Question

In: Statistics and Probability

Per Capita Income 23714 21375 32355 35503 51615 58227 71403 87163 38337 31659 27280 41509 24941...

Per Capita Income
23714
21375
32355
35503
51615
58227
71403
87163
38337
31659
27280
41509
24941
20355
23617
26713
26347
21257
15246
15411
20489
29026
13391
39596
15920
10951
13596
41488
12548
10697
15467
67699
60593
16942
23098
19312
9016
22056
37519
13087
39243
18928
18366
20320
23495
15393
13756
28977
17974
19007
15506
15347
16228
8535
22561
24684
16145
13138
17577
24969
12524
16938
12014
23920
15898
14405
10559
11993
17213
22078
16022
40107
19709
34221
26185
29402
33364

1.For the variable Per Capita Income for all neighborhoods create a histogram with minimum five classes.

2. Describe the Shape of the histogram that you created for the variable per Capita Income.

3. Calculate the five-number summary for the variable Per Capita Income, and represent it using a box plot.

4.In detail, summarize what the information that a five-number summary for the variable Per Capita Income provides for the City of Chicago.


Solutions

Expert Solution

### R command

Income=c(23714,21375,32355,35503,51615,58227,71403,87163,38337,31659,
27280,41509,24941,20355,23617,26713,26347,21257,15246,15411,20489,
29026,13391,39596,15920,10951,13596,41488,12548,10697,15467,67699,
60593,16942,23098,19312,9016,22056,37519,13087,39243,18928,18366,
20320,23495,15393,13756,28977,17974,19007,15506,15347,16228,8535,
22561,24684,16145,13138,17577,24969,12524,16938,12014,23920,
15898,14405,10559,11993,17213,22078,16022,40107,19709,34221,
26185,29402,33364)

## 1)
hist(Income, xlab="Per Capita Income")

## 3)
summary(Income)
boxplot(Income)

## End.

1. For the variable Per Capita Income for all neighborhoods create a histogram with a minimum five classes.

2. Describe the Shape of the histogram that you created for the variable per Capita Income.

Ans: The histogram has long tail to the right. Hence, the given variable per Capita Income has a positive skew shape.

3. Calculate the five-number summary for the variable Per Capita Income, and represent it using a box plot.

Ans:

From the above box-plot, we can observe that the given variable has extremely large observations or outliers.

4. In detail, summarize what the information that a five-number summary for the variable Per Capita Income provides for the City of Chicago.

Ans: Let Q1=first quartile

Q2=Median=second quartile

Q3=third quartile

From the five-number summary, we know that

Q1 - Median < Q3 - Median

Hence, the given das has a positive skew.

The minimum value of the variable per capita income is 8535, the 25% observation of the per capita income lies below or equal to Q1=15467, the 50% observation of the per capita income are lies below or equal to Q2=20489, the 25% observation of the per capita income are lies below or equal to Q3=29026 and the maximum value of the given data is 87163.


Related Solutions

2. Switzerland has a per capita income of $50,000, Russia has a per capita income of...
2. Switzerland has a per capita income of $50,000, Russia has a per capita income of $20,000, China has a per capita income of $8,000 and Liberia has a per capita income of $500. (4 points) a. If the growth rate is 1.5% in Switzerland, 3.5% in Russia, 9% in China and 20% in Liberia, in which country is there the largest absolute increase in per capita income (absolute = in nominal value / in $)? (1 point) Switzerland                  ...
Here are some real statistics for various countries in 2003: per capita income vs. per capita...
Here are some real statistics for various countries in 2003: per capita income vs. per capita recorded music sales: Country                      Per Cap. Income Per Cap. Music                                    ($ thousands)             Sales ($) Norway                      42.4                     55.9 United Kingdom          30.9                     53.35 United States              42.0                     40.43 Australia                     32.9                     33.84 Switzerland                 35.3                     34.40 Finland                       30.6                     26.98 Canada                      32.9                     20.79 United Arab Emirates        29.1                     11.33 Greece                            22.8                     8.10 Israel                               22.3                     6.68 Czech Republic                 18.1                     3.96 South Africa                     12.1                     3.75 South Korea                      20.4                     3.34 Mexico 10.1                     3.30 Egypt                                4.4                   0.15 Indonesia                          3.7                  ...
Find data for a given year on income per capita and income inequality for the following...
Find data for a given year on income per capita and income inequality for the following three groups of countries; (a) high human development, (b) medium human development and (c) low human development. Include about 8-10 countries in each group. Plot the data on the relationship between income per capita and inequality for each group. Is there any evidence of a Kuznets relationship? Explain. Please make sure to upload your graph
How calculate the steady-state level of income per capita?
How calculate the steady-state level of income per capita?
State Debt and Per Capita Tax Data for per capita state debt and per capita state...
State Debt and Per Capita Tax Data for per capita state debt and per capita state tax for nine randomly selected states are shown. The correlation coefficient is =r0.420 . Compute the standard error of the estimate rounded to at least two decimal places, if appropriate. Assume =α0.05 . Per capita debt x 3691 1727 2230 1229 661 1913 1455 907 2176 Per capita tax y 2069 2179 2324 2158 1434 2049 1948 2054 1910
State Debt and Per Capita Tax Data for per capita state debt and per capita state...
State Debt and Per Capita Tax Data for per capita state debt and per capita state tax for nine randomly selected states are shown. The correlation coefficient is =r0.420 . Compute the standard error of the estimate rounded to at least two decimal places, if appropriate. Assume =α0.05 . Per capita debt x 3691 1727 2230 1229 661 1913 1455 907 2176 Per capita tax y 2069 2179 2324 2158 1434 2049 1948 2054 1910
The mean per capita income is 23,334 dollars per annum with a standard deviation of 666...
The mean per capita income is 23,334 dollars per annum with a standard deviation of 666 dollars per annum. What is the probability that the sample mean would be less than 23182 dollars if a sample of 168 persons is randomly selected? Round your answer to four decimal places.
The mean per capita income is 15,654 dollars per annum with a standard deviation of 570...
The mean per capita income is 15,654 dollars per annum with a standard deviation of 570 dollars per annum. What is the probability that the sample mean would differ from the true mean by less than  63 dollars if a sample of 315 persons is randomly selected? Round your answer to four decimal places.
An economist wants to estimate the mean per capita income (in thousands of dollars) for a...
An economist wants to estimate the mean per capita income (in thousands of dollars) for a major city in California. Suppose that the mean income is found to be $22.6$ for a random sample of 2692 people. Assume the population standard deviation is known to be $12.4$. Construct the 98% confidence interval for the mean per capita income in thousands of dollars. Round your answers to one decimal place.
An economist wants to estimate the mean per capita income (in thousands of dollars) for a...
An economist wants to estimate the mean per capita income (in thousands of dollars) for a major city in California. Suppose that the mean income is found to be $⁢22.4 for a random sample of 2128 people. Assume the population standard deviation is known to be $⁢9.3. Construct the 98% confidence interval for the mean per capita income in thousands of dollars. Round your answers to one decimal place.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT