Question

Your mayor just announced that the local unemployment rate dropped last month from the prior month....

Your mayor just announced that the local unemployment rate dropped last month from the prior month. It went from 10.5% to 10.4%. Evaluate the scenario. Is there sufficient information to determine significance? Support your response with specific examples.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

No. There is no sufficient information provided for determination of the significance of the Mayor’s claim. Since population data is not provided we are unable to find the significance. For this scenario, Mayor only provided the estimates for the proportion of unemployment rate for the last two months. For checking the significance of these proportions, we need to conduct a hypothesis test for population proportion by using sample data. But, we do not provide any sample or population data for checking the significance.

We can find the significance of the statement by mayor by using sample data.

For example, we select the sample of 1000 people and find that 132 persons are unemployed. This means 132/1000 = 0.132 i.e., 13.2% persons are unemployed.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Case Scenario: Your 45-year-old patient was readmitted after very long abdominal surgery two weeks prior. She...
Case Scenario: Your 45-year-old patient was readmitted after very long abdominal surgery two weeks prior. She went home and stated she followed the discharge instructions. Yet, upon your initial assessment you find redness at the wound site and around the site, little bleeding but a discharge with a foul odor, and the patient has a temperature of 100 degrees. Question: Apply the concept of inflammation and analyze treatment for this patient. Include in your response specific data, facts, examples, key...
1. To determine the unemployment rate, each month the government collects data from a survey of...
1. To determine the unemployment rate, each month the government collects data from a survey of about 60,000 households nationwide. collects data from a survey of about 500,000 firms nationwide. conducts a full count of the number of unemployed in each state. records the number of people receiving unemployment compensation. 2. Which of the following best describes the interest rate effect? As the price level rises, less money is demanded, so consumption spending must fall to maintain equality of investment...
a) You have just received the following information from your broker regarding spot rates; 3-month KLIBOR...
a) You have just received the following information from your broker regarding spot rates; 3-month KLIBOR = 7.20% 6-month KLIBOR = 8.55% (i) Calculate the implied forward rate. (ii) Determine the correct price of a 3-month KLIBOR futures contract. b) As Credit Officer of a large Malaysian bank, you have agreed to provide an important institutional customer with a fixed rate 3-month RM20 mil for 90 days from today and you had priced the loan at 12% per annum. Your...
Read the RBA’s May 2020 interest rate decision: Explain: Your understanding of why the RBA made...
Read the RBA’s May 2020 interest rate decision: Explain: Your understanding of why the RBA made the decision that they did, with respect to the content of the interest rate decision statement itself and also the RBA’s policy objectives What the RBA’s monetary policy decision means in terms of practical implementation The expected transmission of the monetary policy decision to economic outcomes Statement by Philip Lowe, Governor: Monetary Policy Decision Number2020-13 Date5 May 2020 At its meeting today, the Board...
Case Study Anytown had transformed itself from a 1950’s small, poor town with a high unemployment...
Case Study Anytown had transformed itself from a 1950’s small, poor town with a high unemployment rate to a 1970’s industrial town known for it’s plumbing supplies, including some of the largest manufacturing facilities of PVC (polyvinyl chloride) pipe in the nation. These industrial sites and factories were thought to be a godsend to this small town, offering jobs, a boost to the local economy, a reputation as a true, hard-working, blue collar town, and a bit of esteem and...
Hailey just started her first job at Whatcom Co. as a junior budget analyst. She is...
Hailey just started her first job at Whatcom Co. as a junior budget analyst. She is working for the Venture Capital Division and has been given for capital budgeting projects to evaluate. She must give her analysis and recommendation to the capital budgeting committee. Hailey has a B.S. in accounting from WWU (2007) and passed the CPA test (2008). She has been in public accounting for 2 years. During that time, she earned an MBA from Seattle U. She would...
As you saw from the lab PowerPoint slides last week, you will be doing a research...
As you saw from the lab PowerPoint slides last week, you will be doing a research study looking at ‘Aggression Priming” for your first paper. For this week’s discussion, I want you to discuss with your group what you think this study is about. What is the hypothesis? What theory does it come from? What do you predict will happen (do you expect something different than the hypothesis in the researcher instructions? If so, what and why?)? Do you think...
Question 1 Jamal is a 40 year-old African American male. He is brought to a local,...
Question 1 Jamal is a 40 year-old African American male. He is brought to a local, out-patient mental health facility by his wife. She expresses concern about him, because he has been withdrawn for the last 2 or 3 weeks. She describes him as being irritable and restless. She also says he eats very little and has lost almost 10 pounds in the past 2 weeks. He agrees that he has been irritable; however, he attributes his irritability to the...
This case assignment draws from the Business Information Systems and the Systems Acquisition and Development modules...
This case assignment draws from the Business Information Systems and the Systems Acquisition and Development modules (Chapters 5 to 8). Its purpose is to provide you with experience in analyzing organizational information systems, making recommendations to improve these systems, and formulating a plan to execute on your recommendations. 1. Recommend one of your alternatives that is the best solution to the main issue and justify your recommendation. Your justification should be based on the key decision criteria and you must...
Jocko Johnson Age Gender Height Weight Body Fat % 30 Male 73 inches 200 18 Jocko...
Jocko Johnson Age Gender Height Weight Body Fat % 30 Male 73 inches 200 18 Jocko was an athlete in high school playing a variety of sports including football, track (100- 400 meter events) and baseball. He has come to you because he has recently had his 30 th birthday and wants to get back in shape. While he is in decent shape already, Jocko wishes to get in excellent shape with an eye on perhaps competing in a local...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT