This module presents students with a number of problems related to statistical sampling and data. In particular, students are asked to demonstrate understanding of concepts such as frequency, relative frequency, and cumulative relative frequency, random samples, quantitative vs. qualitative data, continuous vs. discrete data, and other key terms related to sampling and data.
For each item below:
Identify the type of data (quantitative - discrete, quantitative - continuous, or qualitative) that would be used to describe a response.
Give an example of the data.
Number of tickets sold to a concert
Amount of body fat
Favorite baseball team
Time in line to buy groceries
Number of students enrolled at Evergreen Valley College
Most–watched television show
Brand of toothpaste
Distance to the closest movie theatre
Age of executives in Fortune 500 companies
Number of competing computer spreadsheet software packages
Sixty adults with gum disease were asked the number of times per week they used to floss before their diagnoses. The (incomplete) results are shown below:
Flossing frequency for adults with gum disease
# Flossing per Week
Frequency
Relative Frequency
Cumulative Relative Freq.
0
27
0.4500
1
18
3
0.9333
6
3
0.0500
7
1
0.0167
Fill in the blanks in the table above.
What percent of adults flossed six times per week?
What percent flossed at most three times per week?
Cum. Rel. Freq. for 0 is 0.4500
Rel. Freq. for 1 is 0.3000 and Cum. Rel. Freq. for 1 or less is 0.7500
Freq. for 3 is 11 and Rel. Freq. is 0.1833
Cum. Rel. Freq. for 6 or less is 0.9833
Cum. Rel. Freq. for 7 or less is 1
A fitness center is interested in the mean amount of time a client exercises in the center each week. Define the following in terms of the study. Give examples where appropriate.
Ski resorts are interested in the mean age that children take their first ski and snowboard lessons. They need this information to optimally plan their ski classes. Define the following in terms of the study. Give examples where appropriate.
Population
Sample
Parameter
Statistic
Variable
Data
Children who take ski or snowboard lessons
A group of these children
The population mean
The sample mean
= the age of one child who takes the first ski or snowboard lesson
A cardiologist is interested in the mean recovery period for her patients who have had heart attacks. Define the following in terms of the study. Give examples where appropriate.
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
