Management
Task 2
A. Compute the top 10% value and the bottom 10% value of the household’s annual after-tax income (Ataxlnc). What do these two values imply in terms of the distribution of the after-tax income?
B. The series OwnHouse represents whether a household owns a house or not, that is a qualitative variable. Find the proportion of the households who own a house in your sample and use this proportion to find the probability that any three of the five randomly chosen households will own a house.
C. Draw a scatter plot of the natural log of total expenditures against the natural log of after-tax income, that is, In(Texp) against In(Ataxinc) and compute the coefficient of correlation. Express your finding of the linear relationship between the two variables.
Task 3
A. Construct a contingency table between the gender and the level of education.
B. What is the probability that a random head of a household is a male and his higher level of education is Master?
A. Compute the top 10% value and the bottom 10% value of the household’s annual after-tax income (Ataxlnc). What do these two values imply in terms of the distribution of the after-tax income?
B. The series OwnHouse represents whether a household owns a house or not, that is a qualitative variable. Find the proportion of the households who own a house in your sample and use this proportion to find the probability that any three of the five randomly chosen households will own a house.
C. Draw a scatter plot of the natural log of total expenditures against the natural log of after-tax income, that is, In(Texp) against In(Ataxinc) and compute the coefficient of correlation. Express your finding of the linear relationship between the two variables.
Task 3
A. Construct a contingency table between the gender and the level of education.
B. What is the probability that a random head of a household is a male and his higher level of education is Master?
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