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For the following questions we are interested in a comparison of the 16 years education vs. > 16 years. (Recall we did the analysis on the log scale, so these are actual means on t
For the following claim, find the null and alternative hypotheses, test statistic, P-value, critical value and draw a conclusion. Assume that a simple random sample has been selec
Other Measures of Dispersion In this section, we look at relatively less used measures of dispersion like fractiles, deciles, percentiles, quartiles, interquartile range and f
Frequency distribution A frequency distribution is a series where a number of items with similar values are put in separate groups or bunches. In other words a frequency distri
Features of index numbers
The quick method for a confidence interval for a proportion uses as an approximation for a 95% confidence interval. The margin of error in this case is slightly larger tha
Steps in ANOVA The three steps which constitute the analysis of variance are as follows: To determine an estimate of the population variance from the variance that exi
Consider a Cournot duopoly with two firms (fi rm 1 and fi rm 2) operating in a market with linear inverse Demand P(Q) = x Q where Q is the sum of the quantities produced by both
Linear Programming
Lorenz Curve It is a graphic method of measuring dispersion. This curve was devised by Dr. Max o Lorenz a famous statistician. He used this technique for wealth it i
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