Econ3205 Assignment - Economic & Business Statistics

Question # 00641511
Course Code : ECON3205
Subject: Economics
Due on: 11/11/2022
Posted On: 11/10/2022 09:21 PM
Tutorials: 1
Rating:
4.9/5
Question Dot Image

Econ Business Statistics

Econ 3205 – Economic & Business Statistics

Chap3&4Hw Assignment (50 points)

 Instructions:

1. Students should review Appendix 3.2 (Anderson et. al., 9th edition) and Chapters 3&4 Supplemental Note (Excel Lab Solutions) posted in GaView, Module 2, for guidance and examples.

 2. Each student must submit his/her current original work on this assignment. Students may contact/see the instructor for assistance on the assignment.

3. Any form of cheating, including copied work or work allowed to be copied or any form of plagiarism, will result in cancellation of Hw assignment, and a zero score will be assigned. Late assignment or assignment not submitted/uploaded in GaView Assignment Folder will not be graded but assigned zero.

4. Provide Microsoft Excel solutions to each question as applicable. Excel solutions must contain verifiable Excel formulas/commands; credit will not be given for typing manual solutions into Excel Spreadsheet.

5. Submit/upload your Excel Spreadsheets (one file) with clearly shown answers to each of the exercises below (Anderson et. al., 9th edition). Students must manually enter data on the Excel Spreadsheet for each question.

1. Chap 3, Exercise #10, p. 119.

2. Chap 3, Exercise #74, p. 161. Assume that a sample data set is provided.

3. Chap 3, Exercise #59, p. 149. “SmokeDetectors Datafile” is as follows:

Observation Number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 4. Percentage of Homes with Smoke Detectors 0.50 0.67 0.74 0.76 0.77 0.82 0.81 0.85 0.86 0.88 0.90 0.92 0.95 0.96 0.97 0.96 0.96 Home Fire Deaths per Million of Population 22.9 20.8 17.3 20.5 19.4 18.9 17.6 16.2 13.6 14.4 14.3 13.0 10.9 10.9 10.2 8.4 8.1

4. A real estate company in Albany, Georgia, claims that the probabilities that a house listed with the company will be sold under 30 days, between 30-59 days, between 60-89 days, or at least 90 days are 0.20, 0.30, 0.35, and 0.15, respectively. A summary of the company's home sales in the past year is as follows:

 Initial Asking Price Days Listed Until Sold Under $50,000 $(50,000-99,999) at least $100,000 0-29 45 85 30 30-59 95 125 85 60-89 125 165 95 >= 90 15 50 45

(a) Apply Bayes’ theorem and estimate appropriate posterior (revised conditional) probabilities (in 4 decimal points) for the events in the situation presented. Provide an Excel Spreadsheet showing your analytical results and the steps taken for your analysis.

(b) With your estimates in your Excel Spreadsheet in (a), answer the following questions (in 4 decimal points):

1. What is the probability that a house will be sold in 60-89 days, if its initial asking price is $75,000?

2. What is the probability that a house will be sold in 90 days or more, if its initial asking price is $150,000?

(c) What are the conditions that must be met for your estimates in (a) above to be valid? Explain how these conditions are met in this case.

 

Dot Image
Getsolution Posted By :
Questions: 14694 Tutorials: 14694
Tutorials for this Question

Econ3205 Assignment - Economic & Business Statistics

Tutorial # 00640391
Posted On: 11/10/2022 09:22 PM
Feedback Score: Not rated yet!
Purchased By: 2
Getsolution
Posted By:
Questions:
14694
Tutorials:
14694
Report this Tutorial as Inappropriate
Tutorial Preview
The solution of Econ3205 Assignment - Economic & Business Statistics...
Attachments
Econ3205_Assignment_-_Economic_Business_Statistics.ZIP (18.96 KB)

Great! We have found the solution of this question!

Related Questions
Econ3205 Assignment - Economic & Business Statistics
Econ Business Statistics Econ 3205 – Economic & Business Statistics Chap3&4Hw Assignment (50 points)  Instructions: 1. Students should review Appendix 3.2 (Anderson et. …
Recent Questions
Discussion - Conditioned reinforcement, Identify a behavior that a chaining
Discussion questions 1. Review the presentation titled "Conditioned reinforcement" in chapter 10. 2. Identify a behavior that a chaining procedure would be appropriate to use to teach …
Discussion Chapter 20 - Identify the various terms members
Chapter twenty discussion board 54 Chapter twenty discussion board item: Identify the various terms members of the Ecstasy-using community use to describe their experiences with the drug (&lsquo …
PSYC465 - Describe a recent conflict or negative situation
PSYC 465 MARRIAGE Read Chapters 5, 6, and Appendix A from The DNA of Relationships for Couples. Answer the two questions (Smalley and Paul, 2006, Appendix A) posed in Appendix A (the questions a …
Abanormal Week 11 - Why is marijuana the most frequently
Abanormal week 11 For the discussion this week, consider and address the following questions (all questions need to be answered): Why is marijuana the most frequently used illegal drug in the U. …
Week 4 Assignment - Behavioral Neuroscience Research Paper
Psychology Question Week 4 Assignment - Final BN Research Paper Behavioral Neuroscience Research Paper"Biologically Based Psychological Disorders"For your Behavioral Neuroscience …
Develop your own family genogram, The Genogram
Genogram Project -  Develop your own family genogram. The Genogram must be representative of at least 3 generations, including yourself i.e. Your grandparents, your parents, You; Your parents …
Maria Sanchez is a 60-year-old Latina woman who has concerns
Scenario: Maria Sanchez is a 60-year-old Latina woman who has concerns about her neighbor Lynn, a 21-year-old White woman. Lynn appears to have “issues” and is disturbing the neighbors at …
Chapter 4 - Describe what you find to be important in order for a person
After reading Brooks chapter 4, answer the following aswer the question After reading Brooks chapter 4, answer the following: Describe, in your own words, what you find to be important in ord …
Demonstrate your understanding of sociology and culture by explaining
Chapter twenty-two NOTE: Points will be deducted for the inclusion of outside references.  The resources you need to complete assignments are to be found in the assigned course readings.   …
PSY310 - A key concept in operant conditioning
Punishment A key concept in operant conditioning is to examine how the consequences of a behavior contribute to the likelihood of the behavior occurring again.  Is there a behavior of yours (o …