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Met Areas Tab of Excel is where to find the information. Homework 7 tab!

  1. Suppose that there are the 100 MSAs or cities that are listed in the MetAreas data.  In practice though we might sample instead of looking at all 100 cities because collecting data can be expensive.  If you took a sample of 10 cities what is the worst possible average rating you could have gotten? Answer to 2 decimal places.  Hint: you might want to sort the data.
  2. Suppose that there are the 100 MSAs or cities that are listed in the MetAreas data.  In practice though we might sample instead of looking at all 100 cities because collecting data can be expensive.  If you took a sample of 10 cities what is the best possible average rating you could have gotten? Answer to 2 decimal places.  Hint: you might want to sort the data.

  3. Suppose that there are the 100 MSAs or cities that are listed in the MetAreas data.  However, you only have enough money to rate 15 cities and you decide to sample them alphabetically (i.e., Albany, Albuquerque, Appleton...).  What will your sample average be?  Answer to 2 decimal places.  


Data Source World Development Indicators hTp://data.worldbank.org/indicator Country Name 2001 GDP per capita (current US$) Afghanistan 119.8990371116 Albania 1326.9703392934 Algeria 1732.9585173545 Andorra 21897.6629394768 Angola 574.1941611374 An±gua and Barbuda 9797.968712774 Arab World 2502.4941634314 Argen±na 7170.6896981936 Armenia 692.3016308889 Aruba 20671.545738502 Australia 19495.1459333809 Austria 24489.7355313151 Azerbaijan 703.6712504399 Bahamas, ²he 21497.3081566811 Bahrain 12917.3955022801 Bangladesh 403.5945462137 Barbados 11513.3401801349 Belarus 1244.4419967652 Belgium 23121.566347019 Belize 3419.2087146099 Benin 373.5536136218 Bermuda 58883.9594265967 Bhutan 820.2028588625 Bolivia 958.2363140636 Bosnia and Herzegovina 1512.9930140556 Botswana 3114.6165937873 Brazil 3136.4967334247 Brunei Darussalam 16616.798045418 Bulgaria 1762.4559679559 Burkina Faso 235.5079324878 Burundi 126.2170813087 Cabo Verde 1258.5569393932 Cambodia 319.6924597355 Cameroon 589.2039194702 Canada 23573.7500651106 Caribbean small states 5101.6449800659 Central African Republic 245.5632726456 Central Europe and the Bal±cs 4342.0075368337 Chad 197.3022751086 Channel Islands 41609.0194762585 Chile 4709.9233998205 China 1047.4778628689 Colombia 2395.856522194 Comoros 391.957280988 Congo, Dem. Rep. 150.4213804906 Congo, Rep. 877.6263939758 Costa Rica 4104.1840831196 Cote d'Ivoire 663.6413458731 Croa±a 5245.4214194414 Cuba 2841.1764832481 Cyprus 14723.2104665853 Czech Republic 6594.7174650938 Denmark 30751.6494603843 Djibou± 779.7667865708 Dominica 4925.6296915111 Dominican Republic 2862.1630796842 East Asia & Paci³c (all income levels) 3661.7490463685 East Asia & Paci³c (developing only) 1008.3724103122 Ecuador 1903.7418675983 Egypt, Arab Rep. 1402.759854334 El Salvador 2363.2710311395 Equatorial Guinea 2661.4214791971 Eritrea 205.8460353996 Estonia 4498.9587041333 Ethiopia 120.3531152498 Euro area 20439.9284235039 Europe & Central Asia (all income levels) 11617.3284183052 Europe & Central Asia (developing only) 1553.8275393588 European Union 18241.6176204506 Faeroe Islands 24566.0638419718 Fiji 2038.8992411133 Finland 24913.2445163584 Fragile and con´ict aµected situa±ons 575.3933552807 France 22527.3177509504 Gabon 3981.8587862024 Gambia, ²he 542.5042831013 Georgia 733.9704142073
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Germany 23687.3168928198 Ghana 275.4723720594 Greece 12435.5632085901 Greenland 19275.4328079683 Grenada 5109.9587152077 Guatemala 1561.5957654366 Guinea 316.3823076953 Guinea-Bissau 291.9505319232 Guyana 936.9162238682 HaiT 413.7378803954 Heavily indebted poor countries (HIPC) 303.4767711725 High income 21530.9951107395 High income: nonOECD 6241.2661454614 High income: OECD 26081.9596873438 Honduras 1187.5902331071 Hong Kong SAR, China 25230.2163329516 Hungary 5266.8500605095 Iceland 28516.0479575589 India 460.8261999487 Indonesia 748.1847461139 Iran, Islamic Rep. 1899.0204247278 Ireland 28212.5921965388 Isle of Man 20804.495553528 Israel 20306.1964622421 Italy 20409.0033295752 Jamaica 3487.9000247186 Japan 32716.4186748897 Jordan 1824.8861212041 Kazakhstan 1490.9267511843 Kenya 407.5540065517 KiribaT 734.9492460798 Korea, Rep. 11255.9478894452 Kosovo 1490.3610325023 Kuwait 17532.8577986039 Kyrgyz Republic 308.4090313867 Lao PDR 326.0306988987 LaTn America & Caribbean (all income levels) 4134.9899022636 LaTn America & Caribbean (developing only) 3635.0451767272 Latvia 3571.5470051351 Least developed countries: UN classiFcaTon 286.3468838291 Lebanon 5253.0975836247 Lesotho 377.4535887102 Liberia 173.7378992053 Libya 6283.7436399841 Liechtenstein 74021.9397788888 Lithuania 3530.1473373189 Low & middle income 1079.91449982 Low income 228.3738054059 Lower middle income 564.1175729987 Luxembourg 47680.381715447 Macao SAR, China 14869.7784192751 Macedonia, ±YR 1835.014520759 Madagascar 278.9874569873 Malawi 149.3672431695 Malaysia 3878.7714093459 Maldives 3028.3430421255 Mali 265.2605844099 Malta 9967.7904065929 Marshall Islands 2206.6561156159 Mauritania 463.2714184683 MauriTus 3792.1875762733 Mexico 6952.2890393048 Micronesia, ±ed. Sts. 2239.9169543716 Middle East & North Africa (all income levels) 3004.8564416902 Middle East & North Africa (developing only) 1638.0252630411 Middle income 1163.5837559875 Moldova 407.7302431871 Monaco 82542.3644408713 Mongolia 524.0247660076 Montenegro 1909.6354349023 Morocco 1275.4592348754 Mozambique 253.6631645882 Namibia 1836.7553207403 Nepal 248.8329359029 Netherlands 26584.1216906272 New Zealand 13882.8949661011 Nicaragua 1043.6007578696 Niger 167.0912300766 Nigeria 350.260182194 North America 35930.8491772686 Norway 38549.5893413937
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