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Question: The minimum wage. The federal government sets the minimum hourly wage that employers can pay a worker. Labor wants a high minimum wage, but many economists argue that too high a minimum makes employers reluctant to hire workers with low skills and so increases unemployment. Here is information on changes in the federal minimum wage, in dollars per hour:
Year 1960 1965 1970 1975 1980 1985 1990 1995 2005 2007
Min. wage ($) 1.00 1.25 1.60 2.10 3.10 3.35 3.80 4.25 5.15 5.85
Use annual average CPIs from Table 16.1 to restate the minimum wage in constant 1960 dollars. Make two line graphs on the same axes, one showing the actual minimum wage during these years and the other showing the minimum wage in constant dollars. Explain carefully to someone who knows no statistics what your graphs show about the history of the minimum wage.
In a bumper test, three types of autos were deliberately crashed into a barrier at 5mph, and the resulting damage (in dollars) was estimated. Five test vehicles of each type were crashed, with the results shown below. Are mean crash damages the sa..
Find a 99% confidence interval for the population mean number of weekly miles.
Develop 95% confidence intervals for the proportion of all students, the proportionof male students, and the proportion of female students who were involved in sometype of cheating.
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suppose that you are in a class of 33 students and it is assumed that approximately 15 of the population is
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The number of breakdowns is dependent on the shift, because the test value 11.649 is less than the critical value of 12.592.
The order in which each driver applies the strategies is randomly determined, and the fuel-consumption data are shown here. Use the 0.05 level in comparing the driving strategies.
Construct a scatter plot from a given set of data and write a regression equation to predict a value not given in the data set.Solve the following:Consider the following data that compares the Consumer Price Index (CPI) with subway fare in a particul..
a recent survey asked how many people they associatd with since they moved to chicago. the mean 6 and mode 1 16 of
During the 2004 election year, new polling results were reported daily. In an IBD/TIPP poll of 910 adults, 503 respondents reported that they were optimistic about the national outlook, and The President's leadership index jumped 4.7 points to 55...
For the samples summarized below, test the hypothesis at =0.05 that the two variancees are equal.
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