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ECON 7300 ASSIGNMENT

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Every piece of written work you submit intended for assessment should have this cover sheet attached. Please type your particulars then replicate and insert to the entrance of your project and save the data file ready to upload. COURSE SPECIFICS

Course Code:

ECON7300

Study course Name:

Stats for Business and Economics

Program Coordinator:

A/Prof John Asafu-Adjaye

Assignment Due Date:

5pm, Thursday 23 May 2015

ARTICLE GROUP NOT ANY:

T11

TUTOR'S NAME:

Ms. Ramya Sivaprasad

Please ensure to enter the tutorial group number plus your tutor's identity. STUDENT CONTACT DETAILS

Student No:

43348802

Email Address:

[email protected] com

College student Name:

Xiaohui

Surname:

WAN

Student Simply no:

Email Address:

Student Name:

1st Name:

Surname:

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Day Submitted:

twenty-three MAY 2015

ECON 7300

Statistics for people who do buiness and Economics

Statistics Job

Project Dataset 4

Guide T11

Thursday 8. 30-10. 00

Term: Xiaohui WAN

Pupil Number: 43348802

Part A – Simple Linear Regression Analysis

(a) Requirement

Е¶i sama dengan ОІ0 & ОІ1xi + ОІi

Where Е¶ =Amount of money the state of hawaii spends in aid to local institution districts per capita (AIDPC) Xi= Point out Income every capita (INCOMEPC)

In general, all of us expect the increase of express Income per capita associated with state spends more money on aid to local school districts per capita. Therefore , we anticipate ОІ1> zero. (b)Estimate the regression style

Coefficients

Normal Error

big t Stat

Intercept

-0. 499260665

1 . 475737675

-0. 33831261

INCOMEPC

0. 053681383

zero. 044917266

1 ) 195116879

Graph and or chart A. 1

As the knowledge demonstrated in Table A. 1, we could estimated the regression version as Е¶ = -0. 4993+0. 0537X. Where Е¶ =Amount of money the state consumes on aid to community school districts per capita (AIDPC) since dependant varying; and Xi= State Profits per household (INCOMEPC) since independent varying. (C) Estimation for the mean state income per capita

Column1

Mean

thirty-two. 44562

Regular Error

zero. 738238483

Median

31. 976

Mode

#N/A

Standard Change

5. 220134371

Sample Variance

27. 24980285

Kurtosis

0. 266532739

Skewness

0. 57662915

Range

24. 677

Bare minimum

21. 191

Maximum

forty five. 868

Quantity

1622. 281

Count

40

Confidence Level (95. 0%)

1 ) 483545774

The formula to get calculating estimation for the mean state income every capita in 95% assurance interval is. n=50, x=50, s=5. 2201, 1-О±=0. 95 О±=0. 05 and О±/2=0. 025 Because Пѓ can be unknown, we have to use the to distribution, assuming the population is normal. T value corresponding to a probability of 0. 025 from table E. 3 with df=50-1=49. T value=2. 0096 The 95% CI is given by: 34. 4456В±2. 0096

So 34. 16141. 195116879

Chart A. 2 Because shown in Chart A. 2, the slope zero. 0537 indicates that the amount of cash the state usually spends on help to local school schisme per capita is expected to go up simply by $ zero. 0537 100 ($0. 537), on average, for each and every additional one thousand increase in express income. (e) Prediction

Prediction state total income per capita can be $20000, and so x=$20000/1000=20 Е· = -0. 4993+0. 0537*20=0. 5747 ($'00s)

Given the X1, the predicted value of AIDPC will be $57. 47.

(f) Test to get the significance of the slope pourcentage

df

SS

MS

Farrenheit

Regression

1

3. 847749949

3. 847749949

1 . 428304355

Residual

forty eight

129. 3085727

2 . 693928597

Total

49

133. 1563226

Coefficients

Normal Error

t Stat

P-value

Intercept

-0. 499260665

1 ) 475737675

-0. 33831261

0. 736602987

INCOMEPC

0. 053681383

0. 044917266

1 . 195116879...

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