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The Office of Federal Housing Enterprise Oversight (www.ofheo.gov) collects data on various aspects of housing costs around the United States. Here is a scatterplot of the Housing Cost Index versus the Median Family Income for each of the 50 states. The correlation is 0.65.
a) Describe the relationship between the Housing Cost Index and the Median Family Income by state.
b) If we standardized both variables, what would the correlation coefficient between the standardized variables be?
c) If we had measured Median Family Income in thousands of dollars instead of dollars, how would the correlation change?
d) Washington, DC, has a Housing Cost Index of 548 and a median income of about $45,000. If we were to include DC in the data set, how would that affect the correlation coefficient?
e) Do these data provide proof that by raising the median income in a state, the Housing Cost Index will rise as a result? Explain.
What is the probability that none of the people are Independent? What is the probability that fewer than five people are Independent? What is the probability that more than two people are Independent?
She figures that each box costs $ 2.59 plus $ 0.21 shipping and handling, which totals $ 2.80, then she adds $ 0.70 profit to each box and sells it for $ 3.50. Do you think this is a good pricing strategy? How would it compare to marking up by a p..
would this prove that they are exceeding their goal, using α = 0.025?
The owner of a mail-order catalog would like to compare her sales with the geographic distribution of the population. According to the United States Bureau of the Census
The government of the United States of America is the federal government of the republic of fifty states that constitute the United States, as well as one capital district, and several other territories. Discuss the history of federal government?
The mean annual salary paid to all employees in a company was EURO 30.000. The mean annual salaries paid to male and female employees of the company were EURO 32.000, and 24.000, respectively. Determine the percentage of males and females employed..
From these we calculate = 129.44; = 122.65; sx = 9.15; sy = 11.02. Perform the test H0: against the alternative H1:, using the two sample t-test, and state any assumptions you may require to do this test.
What is the probability that the first card dealt is an ace of spade?
To decrease the amount of time it takes to deliver packages, a delivery company purchased computer software that finds the optimal route for making deliveries based upon the input of the package destinations.
Suppose that beer consumption and religious affiliation are not independent of each other. That means that
Items that fail during the test are not replaced. Determine the plan, using Handbook H-108, if the sample size is to be five times the rejection number.
given that the scores on a medical test follow a normal distribution with a mean of 460 and a standard deviation of
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