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Q: Economic Statistics ( No Answer,   0 Comments )
Question  
Subject: Economic Statistics
Category: Business and Money > Economics
Asked by: jubeda-ga
List Price: $40.00
Posted: 24 Jul 2003 18:41 PDT
Expires: 22 Aug 2003 02:32 PDT
Question ID: 234840
In this question S stands for the last digit of student identity
number (SIN).  Thus for example if the SIN is S00115754 then in this
case for the purpose of this question, S = 4

Consider the following three sets of data showing total expenditures
($) incurred in 1999 by 3 families on 5 types of meat.  These
expenditures (data points) involve S where S stands for the last digit
of your student identity number (SIN).  THus for instance the
expenditure = $27 in its full numerical form in the case of the
student referred to above (with SIN = S00115745) is 427 (dollars)

(N.B. if the last digit of your SIN is zero then the equivalent data
set relevant to your case, is the following data set ignoring S, that
is, assuming that each data point involves no S.  THus for instance
S27 in the case of a student with zero (0) as the last digit of
his/her SIN is simply 27 dollars.

Table 3 expenditures ($) incurred in 1999 by three families on five
types of meat

Family 1   S27   S39   S22   S36   S31
Family 2   S32   S28   S33   S30   S27
Family 3   S34   S47   S16   S49   S39

1.  Based on the instructions given above, express full numerical
version of the 3 data sets relevant to the case by substituting in the
relevant value for S.

Based on your fully expressed numerical version of the above three
data sets given in (a)

2.  examine without performing any calculations the three sets of data
shown above.  Indicate which set of data has the largest amount of
variability and which set have the least amount of variability -
explain why

c.  Calculate variance and standard deviation of each of the above 3
sets of data.  discuss the results of calculation and in the
discussion relate your obtained results to the following:

inspection without calculator
the units of measurement associated with the variance and the standard
deviation figures respectivley

the usefullness of variance (how informative is it) as a measure of
variability for the three sets.

the usefullness of standard deviation (how informative) as a meaure of
variablity for the three sets.

d.  Calculate the sum of the deviation (differences) from the mean of
the individual expenditures for each of the above 3 sets of data. 
What general result that may be inferred from your obtained results?

Create and report a data set of size 5 whose mean is 20 and whose
variance is zero.  Discuss your created/represented data set.


Pls note - I would like to get clear step by step method of
calculation of full numerical version of data set (ques a)
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