Visitors at a train station were surveyed. The survey found that visitors were unlikely to use taxis because they could not find one quickly enough. How might you generate a hypothesis that relates to this survey data?
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- A newspaper article mentions that two of South Korea’s largest semiconductor manufacturers, - Samsung Electronics Company and Hynix Semiconductor - would suspend all their memory chip production for some time. The article goes on to say that another large semiconductor manufacturer was likely to follow suit. Collectively, these chip manufacturers produce about 30 percent of the world’s basic semiconductor chips. Based on this information, how is the market for computers altered? This answer involves no numerical computation. However, graphs/plots should be used to elaborate your answer. Explain plus make graphs for this answer.The following data from a random sample of individuals that are 25 years old. Note, wage is the hourly earnings in US dollars and educ is years of education. i 1 2 3 4 wage 12.18 12.18 20.09 7.39 educ 13 11 16 12 Consider the following model: In(wage)-Bo+B₁educ+u. Calculate the estimate of B₁. Round your answer to two decimal places.The Australian Government has developed a survey to enable it to gauge the views of the Australian public regarding "Climate Change". The survey consists of a sample of 400 Australian Citizens and Permanent Residents regarding their views on a wide range of Climate Change topics. The Government intends to use the results of the survey to assist in the formulation of government policy for the next 30 years. The variables used in the dataset are as follows: Variable Name Explanation Options Cars Number of motor vehicles in your household Income Your income in Dollars ($) Support Belief that Australia should financially support developing countries in their efforts to address Climate Change (Yes, No) Cause Who/what you think is most responsible for Climate Change (Mostly Human, Mostly Natural, There is no Climate Change, Unsure/Undecided} Solar_Panels Willingness to Install Solar Panels For each of the scenarios outlined below, describe a type of Visualisation (i.e. a Chart/Table/Graph)…
- what are the general steps in testing statistical hypothesisA study by University of Minnesota economist, Joel Waldfogel, estimated the difference in the actual monetary value of gifts received and how much the recipients would have been willing to pay to buy them on their own. The study suggested that the average recipient’s valuation was approximately 90% of the actual purchase price. a. In 2017, it was estimated that the average amount spent on winter holiday gifts in the United States was $906. Based on the estimate from the Waldfogel study, how much of this would be deadweight loss? Enter your answer to the cent. b. In 2017, approximately 250 million people in the United States were above the age of 18. Assuming that each individual purchased $906 worth of gifts, what was the total deadweight loss associated with gift-giving in the United States? Round your answer to the nearest billion dollars.Question 4 Suppose you have been hired by the government as an econometrician and have been tasked with predicting whether or not individuals will choose to get inoculated with a new vaccine developed to fight the next global pandemic. You have individual-level data from the previous pandemic on the following variables: ● ● Whether or not the individual chose to get vaccinated Age, gender, marital status, religion, education level and household income of each individual . A dummy for whether or not the individual was in the labor force Occupation, sector/industry and wage/earnings of each individual ● Develop an econometric model the government can use to predict whether or not an individual will choose to get vaccinated in the next global pandemic. State any assumptions you are relying on in constructing your model and justify the design of your model in the context of the problem faced. Specify the model mathematically, explain how you will estimate it (i.e. which estimation…
- the unemployment rate for 18- to 34-year-olds was reported to be 10.8% (the Cincinnati Enquirer, november 6, 2012). assume that this report was based on a random sample of four hundred 18- to 34-year-olds. a. a political campaign manager wants to know if the sample results can be used to conclude that the unemployment rate for 18- to 34-years-olds is significantly higher than the unemployment rate for all adults. according to the bureau of labor Statistics, the unemployment rate for all adults was 7.9%. develop a hypothesis test that can be used to see if the conclusion that the unemployment rate is higher for 18- to 34-year-olds can be supported.b. use the sample data collected for the 18- to 34-year-olds to compute the p-value for the hypothesis test in part (a). using a 5 .05, what is your conclusion?c. explain to the campaign manager what can be said about the observed level of significance for the hypothesis testing results using the p-valueSherwin-Williams Company is attempting to develop a demand model for its line of exterior house paints. The company’s chief economist feels that the most important variable affecting paint sales (Q) (measured in gallons) is the Selling price (P) (measured in Ghana cedis per gallon). The chief economist decides to collect data on the variables in a sample of 10 company sales regions that are roughly equal in population. Data on paint sales, and selling prices were obtained from the company’s marketing department. The data are shown in the table below: Sherwin-Williams Company Data Sales Region Sales (Q) Selling Price (P) (GHS/Gallon) 1 160 15 2 220 13.5 3 140 16.5 4 190 14.5 5 130 17 6 160 16 7 200 13 8 150 18 9 210 12 10 190 15.5 Specify the linear demand model for Sherwin-William’s paint. Estimate the demand…Select the scenario which is an example of voluntary sampling. Answer Keypad Keyboard Shortcuts Tables An airline is interested in getting feedback about their on-board catering experience. They place a questionnaire in the pocket behind each airline seat for passengers to O fill out. An urban planner is interested in determining the traffic volume along a particular road. To estimate the traffic volume, he counts the number of cars that go by during the next 30 minutes. O To determine the mean domestic electricity consumption in the region, the electric company collects data from randomly selected households in the given region. A fitness center has 400 male clients and 300 female clients. They plan to buy new equipment, so they randomly select 80 male clients and 60 female clients and ask them what equipment they use the most.
- Business and consumer marketers use the same set of variables to segment their markets Select one: True FalseLiteracy rate reflects the educational facilities and quality of education available in a country, and mass communication plays a large part in the educational process. To relate the literacy rate of a country to various mass communication outlets, a demographer has proposed to relate literacy rate to the following variables: News = number of daily newspaper copies (per 1000 population) Radio = number of radios (per 1000 population) TV = number of TV sets (per 1000 population). The regression model to estimate the literacy rate (?̂ ) is below: ?̂= 0.5149 + 0.0005*News - 0.0003* TV + 0.002* Radio Answer the following questions: 4.1) Interpret the coefficient value of the TV variable in the model. 4.2) Predict the literacy rate for a country that has 200 daily newspaper copies (per 1000 in the population), 800 radios (per 1000 in the population), and 250 TV sets (per 1000 in the population). Show a detailed solution to support your answer.Suppose the researcher considers the following model : Wage = Bo+B,Female + u, and runs OLS, using wage data on 250 randomly selected male workers and 280 female workers. The researcher has obtained the estimated equation as Wage = 15 (1.00) 3 Female, R = 0.05. (0.5) In the equation, Wage is measured in dollars per hour, Female is a binary variable that is equal to 1 if the person is a female and O if the person is a male. The numbers in the parentheses are the standard errors of the coefficients. Which Statement is NOT correct? The coefficient of Female, -3.00, is statistically significant at 5%. O The p-value for the test that Ho: B = 0, H : B 0 is less than 0.05. This regression may suffer omitted variable bias. R Since insignificant. is too low, the wage difference between men and women is The researcher can increase R- by including more regressors in the model.