homework_2_sol

homework_2_sol - 2028: Basic Statistical Methods Solutions...

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Unformatted text preview: 2028: Basic Statistical Methods Solutions - Homework 2 I Acorn, Banking on Discrimination Question 1 : The five-numerical summaries for the four categories are: Summary: Refusal rate for minority applicants Min. 1st Qu. Median Mean 3rd Qu. Max. 10.60 26.43 37.40 36.88 45.25 62.20 Summary: Refusal rate for white applicants Min. 1st Qu. Median Mean 3rd Qu. Max. 3.700 9.225 15.800 15.620 20.230 32.400 Summary: Refusal rate for high income minority applicants Min. 1st Qu. Median Mean 3rd Qu. Max. 5.80 21.30 29.05 27.52 36.95 41.30 Summary: Refusal rate for high income white applicants Min. 1st Qu. Median Mean 3rd Qu. Max. 2.200 7.375 9.750 11.300 15.070 26.800 We note that the refusal rates for minority population are much higher than for white population regardless of the income level; i.e. the mean and the median are higher in the first and third category than the second and fourth category. The higher refusal rates are for minority applicants and they are two fold higher than for white population. The sample variances are: Variance: Refusal rate for minority applicants [1] 170.3259 Variance: Refusal rate for white applicants [1] 60.7746 Variance: Refusal rate for high income minority applicants [1] 119.2908 Variance: Refusal rate for high income white applicants [1] 42.46316 Not only the rates are higher for the first and third groups, but also the variance is much higher implying widely varying practices and across banks....
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homework_2_sol - 2028: Basic Statistical Methods Solutions...

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