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Question

1. (a) What is meant by a variable in a statistical sense? Distinguish between qualitative and quantitative statistical variables, and between continuous and discrete variables.  Give examples.
(b) Distinguish between (i) a statistical population and a sample; (ii) a parameter and a statistic. Give examples.
2. In order to know the market better, the second-hand car dealership, Anzac Garage, wants to analyze the age of second-hand cars being sold. A sample of 20 advertisements for passenger cars is selected from the second-hand car advertising/listing website www.drive.com.au  The ages in years of the vehicles at time of advertisement are listed below:
5, 5, 6, 14, 6, 2, 6, 4, 5, 9, 4, 10, 11, 2, 3, 7, 6, 6, 24, 11
(a) Calculate the frequency, cumulative frequency and relative frequency distributions for the age data using the following bin classes:      More than 0 to less than or equal to 8 years     More than 8 to less than or equal to 16 years     More than 16 to less than or equal to 24 years.
(b) Sketch a frequency histogram using the calculations in part (a). What can you say about the distribution of the age of these second-hand cars? Is there anything that concerns you about the frequency table and histogram? Specifically, is the choice of bin classes appropriate? What needs to be done differently?
(c) Halve the width of the bins (0 to 4, 4 to 8, etc) and recalculate the frequency, cumulative frequency and relative frequency distributions. Using the new distributions and histogram, what can you now say about the distribution of the age of second-hand cars?
3. Health expenditure   A recent report by Access Economics provides a comparison of Australian expenditures on health with that of comparable OECD countries. Data from that report relating to the year 2005 have been used to reproduce their Figure 2.2 (below denoted as Figure 2.1).
(a) What are the key features of these data?
(b) While this is a bivariate scatter plot, there are three variables involved:  health expenditure, GDP and population. Why account for population by expressing health expenditure and GDP in per capita terms?

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More ECON 1203 Tutorial Workshop : Questions & Answers

Q

Overall Evaluation

1.Give your overall evaluation of the methods used in the article: what things were done well? What were done poorly? How much trust do you put in the findings? 2.Look at the article's "packaging," that is, the theoretical introduction and the discussion or interpretation at the end. Do you feel th ...

Q

risk management

Each questions to have an estimated 4 to 5 page answers in handwritten form. As such I estimated 5 pages x 4 questions to derive the words required. Each question to cite real life example and with diagrams. 1. Your organisation proposes to undertake a project in one of two countries. You have ...

Q

Mathematics

Prove mathematically that f(n) = 7n3 + 30n2 + 100 2 O(n3), for n " 0. [4] Briefly explain whether the following statements are true or false (mere ”true” or ”false” answers will attract zero marks): (a) If a program has polynomial space complexity, then it will take a maxi ...

Q

Accounting Theory

1. Explain why principles-based standards require a conceptual framework. 2. Why is it important that the IASB and FASB share a common conceptual framework? 3. It is suggested that several parties can benefit from a conceptual framework. Do you consider that a conceptual framework is more important ...

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