Homework #6
ECO 3411
1.) The XYZ Corporation is interested in possible differences in days worked by salaried
employees in three departments in the financial area (Budgets, Payables, Pricing). A
survey of 23 randomly chosen employees reveals the data show
1.
The cost of housing for elderly persons who rent as a percentage of income is distributed as listed below.
Beneath the national percentages are the observed frequencies for a random sample of 300 elderly renters
from a the Jacksonville area. At the 0.0
Exam 2 Review Problems KEY
ECO 3411
1.
A mortgage department of a large bank is studying its recent loans. Of particular interest is how such factors
as the value of the home (in 1000s of dollars), education level of the head of the household (in years),
Exam 1 Review Problems KEY
ECO 3411
1. The number of internet users is rapidly increasing. Suppose that a survey of 200 people asked them to
report the number of hours they spent on the internet last week. Can we infer that the average number of
hours spe
ANOVA set ups
1. One-factor ANOVA
Source of Variation
sum of squares
degrees of freedom
Mean squares
F
Treatments (Between)
Error (Within)
SSB
SSW
t-1
N-t
SSB/(t-1)
SSW/(N-t)
MSB/MSW
Total
SST
N-1
F(t,N-t)
MSB/MSW
2. Two-factor ANOVA
Source of Variation
s
Dummy Variable Assignment KEY
ECO 3411
A dealer wants to find out whether profits differ on used cars sold at his dealerships in
Miami, Jacksonville and Orlando. He thinks profits (measured in dollars per car sold) on
used cars differ due to their miles (
Homework #1
ECO 3411
You need to get Minitab Software on your personal computer or find a place where you
can easily access Minitab. Make sure that it is installed correctly. Open Minitab and
become familiar with the Menu, Session Window, & Worksheet.
Use
Economic Statistic Notes
SUMMARY OF HYPOTHESIS TESTS
Problem Objective
Analyze the mean of a single population of
interval or numerical (quantitative) data.
Test
One-Sample T-test
Compare the mean of two populations of
interval or numerical (quantitative)
Homework #11
ECO 3411
1.
A manufacturer has recorded its cost of electricity (cost) and the total number of
hours of machine time (time) each week for 52 total weeks. Use the data below (at the
end of the document) to answer the following questions.
a.) F
HW # 16
ECO 3411
1. The following are data for an Atlanta based package delivery company. The company
wants to find out what is driving gas expenses (1000s dollars per month). They think
miles driven per month, average distance between stops and number of
Exam 3 Time Series & Forecasting Review KEY
ECO 3411
At the end of 2005, a major builder of residential houses in the northeastern United States wanted to
predict the number of housing units that would be started in 2006. This information would be
extreme
Appendix 1: Variable Definitions & Data Descriptions
Y = Sales = Sales Revenue for Dillards Department Store per month (in millions of $) from January
2002 through November 2011 for a total of 119 observations obtained from Retailsails.com
Ti me Se r i e
Model Building & Regression Diagnostics Review KEY
ECO 3411
1. The Department of Education is trying to determine the factors that impact the average
financial aid awarded per student (measured in 10s of dollars) at colleges and universities in the
US and