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According to the Census Bureau, the number of people below the poverty level has been steadily increasing (CNN, September 16, 2010). This means many families are finding themselves there for the first time. The following table shows a portion of the percent of families in the United States who are below the poverty level from 1986-2009. The full data set can be found on the text website, labeled Poverty Rate.
a. Plot the above series and comment on its shape.
b. Use a 3-period moving average to make in-sample forecasts. Compute the resulting MSE and MAD.
c. Use the exponential smoothing method to make insample forecasts with α = 0.6. Compute the resulting MSE and MAD.
d. Choose the appropriate model to make a forecast of the poverty rate in 2010.
Petitions. To get a voter initiative on a state ballot, petitions that contain at least 250,000 valid voter signatures must be filed with the Elections.
The cost of 5 gallons of ice cream has a variance 36 with a mean of 31 dollars during the summer. What is the probability that the sample mean would be less than 29.8 dollars if a sample of 39 5 gallon pails is randomly selected?
Rob works in quality at a well known saw blade company. An inspector on his team has uncovered an issue with the kerf dimension on the bandsaw blade line. Rob conducts a sampling study and finds that 7% of the bandsaw blades are out of spec.
Find P22, the 22-percentile. This is the temperature reading separating the bottom 22% from the top 78%.
Assuming 7 classes with a class interval width of 4, plot the data and construct a curve. What type of distrubtuion is indicated by the curve?
The distribution of test scores is mui=35 and a standard deviation of 15. Do students taking the supplement have significantly better memory scores? Use a one-tailed t-test with an alpha=0.05.
You are going to draw two candy bars from a large bag containing 22 Snickers bars. What is probability that both candy bars you draw from the bag are Snickers?
Find the least-squares regression line to predict chirps per second based on temperature. increase in temperature. Predict the chirps per second if it is 83.3 degrees.
Identify the data type and measurement scale of each variable - Create a simple frequency table to show the distribution of employees' departments. Comment on the distribution.
At the .01 significance level, is there a difference in the mean number of times men and women order take-out dinners in a month? What is the p-value?
Statistical Hypothesis test for the given sample
The following data are the net wealth, in billions of dollars, of a random sample of U.S. billionaires in the Forbes 2007 list.
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