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The number of people living on American farms has declined steadily during the 20 th century. Here are data on the farm population (in millions of persons) from 1935 to 1980.

Year 1935 1940 1945 1950 1955 1960 1965 1970 1975 1980
Population 32.1 30.5 24.4 23.0 19.1 15.6 12.4 9.7 8.9 7.2

31 . The linear regression equation is y ^ = 1166.93 – 0.5868 x . What was the expected farm population (in millions of persons) for 1980?

  1. 7.2
  2. 5.1
  3. 6.0
  4. 8.0

32 . In linear regression, which is the best possible SSE ?

  1. 13.46
  2. 18.22
  3. 24.05
  4. 16.33

33 . In regression analysis, if the correlation coefficient is close to one what can be said about the best fit line?

  1. It is a horizontal line. Therefore, we can not use it.
  2. There is a strong linear pattern. Therefore, it is most likely a good model to be used.
  3. The coefficient correlation is close to the limit. Therefore, it is hard to make a decision.
  4. We do not have the equation. Therefore, we cannot say anything about it.


Use the following information to answer the next three exercises: A study of the career plans of young women and men sent questionnaires to all 722 members of the senior class in the College of Business Administration at the University of Illinois. One question asked which major within the business program the student had chosen. Here are the data from the students who responded.

Does the data suggest that there is a relationship between the gender of students and their choice of major?
Female Male
Accounting 68 56
Administration 91 40
Economics 5 6
Finance 61 59

34 . The distribution for the test is:

  1. Chi 2 8 .
  2. Chi 2 3 .
  3. t 721 .
  4. N ( 0 , 1 ) .

35 . The expected number of female who choose finance is:

  1. 37.
  2. 61.
  3. 60.
  4. 70.

36 . The p -value is 0.0127 and the level of significance is 0.05. The conclusion to the test is:

  1. there is insufficient evidence to conclude that the choice of major and the gender of the student are not independent of each other.
  2. there is sufficient evidence to conclude that the choice of major and the gender of the student are not independent of each other.
  3. there is sufficient evidence to conclude that students find economics very hard.
  4. there is in sufficient evidence to conclude that more females prefer administration than males.

37 . An agency reported that the work force nationwide is composed of 10% professional, 10% clerical, 30% skilled, 15% service, and 35% semiskilled laborers. A random sample of 100 San Jose residents indicated 15 professional, 15 clerical, 40 skilled, 10 service, and 20 semiskilled laborers. At α = 0.10 does the work force in San Jose appear to be consistent with the agency report for the nation? Which kind of test is it?

  1. Chi 2 goodness of fit
  2. Chi 2 test of independence
  3. Independent groups proportions
  4. Unable to determine

Practice final exam 1 solutions

Solutions

1 . b. independent

2 . c. 4 16

3 . b. Two measurements are drawn from the same pair of individuals or objects.

4 . b. 68 118

5 . d. 30 52

6 . b. 8 40

7 . b. 2.78

8 . a. 8.25

9 . c. 0.2870

10 . c. Normal

11 . d. H a : p A p B

12 . b. conclude that the pass rate for Math 1A is different than the pass rate for Math 1B when, in fact, the pass rates are the same.

13 . b. not reject H 0

Questions & Answers

What is inflation
Bright Reply
a general and ongoing rise in the level of prices in an economy
AI-Robot
What are the factors that affect demand for a commodity
Florence Reply
differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
hi guys good evening to all
Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
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,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
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)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
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
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
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 ?
Abdisa Reply
any question about economics?
Awais Reply
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 .
Feyisa Reply
Answer
Feyisa
c
Jabir
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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