Questions for Exams
Question 33: Describe the economical content of the cumulative frequency if you analyze the series
The economical content of cumulative frequencies if examined in series gives the total sum of all the frequencies displayed in a table for data analysis of samples. Moreover, when the series are accurate, one can tell the sequence of the data as it appears in the worksheet and derives conclusions from the primary variables.
Question 38: Explain the economical and statistical content of the components of following regression equation.
Y intercept is the value of the depreciative variance explained using the alpha constant. Moreover, Y is considered as the value of two or more independent variables for observation. The € regression equation often is used in estimating mathematical economics such as Gross Domestic Product(GDP) and inflation in an economy. The regression equation is important in statistics as it helps in measuring the direction and strength of two or more variables on research and an inference easily derived from the outcome results (Puente, 1).
Question 39: Statistical observation- economic mean, basic steps of performing the statistical observation
Mathematical representation is an organization of different experiments in a single data collection programs on the socio-economic procedures. The method is done by conducting useful features of the environment studied to elaborate the primary statistical information. The steps involved in the survey are:
Developing a statement hypothesis of the statistical research. It means that one need to give simple statement that defines specific relationships on variables (Gelman, 4)
Deriving a declaration of the research questions. It provides a clear information of the research question on what the one expects to learn at the end of the project and reviewing the issue throughout the research to ensure that all the information given are very precise and clear
An observation on statistical data based on data collected for examination. The relevant information is gathered together and assessed by using a simple correlation procedures (5).
Provide a summary of the primary and group information
Write an analysis of the statistical data gathered
Explain the economic interpretation of the results conducted.
Question 40: Statistical observation- economical mean, kinds of statistical observation
The economical mean is the analysis of data represented for certain synopsis to be studies and relevant information gathered in the form of raw data later analyzed with identical information grouped together to find the average measurement at the end of the experiment.
Kinds of statistical observation:
A numerical representation which contains data that can be measured in quantity or quality, for example, the number of share stock, weight, and height.
Categorical data: It represents some types of characteristics based on sizes in each environment such as marital status, gender, medium or large items.
The ordinal observation that is done per the observed orders after arranging all of them in an ascending way and is meant to judge the reasoning of a person such as agree, strongly disagree or neutral (Waller 1).
Question 45: Describe the economical difference between individual and aggregate indexes
Aggregate indexes consist of combined data that are grouped and summarized in a systematic manner based on the observations collected in the nation depending on the trading sector to determine its economic levels such as inflation rate and a net output of products. Individual indexes, on the other hand, entails a measure of average change in product prices over time for personal consumption in the market at a particular period.
Question 49: National Welfare- definition, structure, statistical indexes
National health is the capacity in which the state can hold a certain capacity of local human services to improve their wellness and economic stability. Health statistics constitutes those people who receive government subsidies to sustain their living standards and have basic needs such as Supplemental Security Income(SSI) among others.
Structure
The structure of the national welfare shaped in the US was due to the dynamic changes in the social and economic conditions. The development led to urbanization and industrialization of more companies making smooth inflow and outflow of funds for dependent individuals employed in the sector.
Furthermore, it was formed in association with the states and the federal government to provide social insurance and public welfare regarding funds to finance the insurance programs for eligible benefits of social programs to the society.
Statistical indexes
Study conducted for 5cities in 2013 as below
Alaska 16 70,000
Arizona 19 1,260,000
California 16 6,015,000
Delaware 13 121,000
Works Cited
Gelman, Andrew, et al. Bayesian data analysis. Vol. 2. Boca Raton, FL, USA: Chapman & Hall/CRC, 2014. < http://support.sas.com/publishing/pubcat/chaps/59814.pdf>
Puente La. T.H. Statistics and Data Analysis. 2012. <http://support.sas.com/resources/papers/proceedings12/333-2012.pdf>
Waller J. Statistical Analysis- The first steps.2010 <http://analytics.ncsu.edu/sesug/2010/HOW01.Waller.pdf >
