Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. 2.the following table contains data on the joint d

2.The following table contains data on the joint distribution of age(Age​)and average hourly earnings​(AHE​)for 25 to...

70.2K

Verified Solution

Question

Statistics

2.The following table contains data on the joint distribution ofage(Age​)and average hourly earnings​(AHE​)for 25 to 34​ year-oldfull-time workers with an educational level that exceeds a highschool diploma in 2012. Download the data from the table byclicking the download table icon.A detailed description of thevariables used in the dataset is available here

. Use a statistical package of your choice to answer thefollowing questions.

Compute the marginal distribution of

Age.

Marginal distribution of Age

Age​ (years)

25

26

27

28

29

30

31

32

33

34

​=

.0754

.0797

.0947

.0953

.0983

.1105

.1105

.1134

.1134

.1085

A.Compute the mean of AHE for Age​ = 31​;that​ is, compute, E( (AHE Age=31)=.

B. Use the law of iterated expectations to compute the mean ofAHE​; that is compute E(AHE)

c. Compute the variance of AHE​; that is compute  var(AHE​).

D. Compute the covariance between AHE andAge​; that is compute cov (AHE​,Age​)

F. Compute the correlation between AHE andAge​; that is compute corr(AHE​,Age​)

Answer & Explanation Solved by verified expert
3.7 Ratings (672 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

at t=0,a tank contains Q0 g of the salt dissolved in 100L of water, assume that...

Physics
1.2K views

Four identical charges (+2.0 ?C each) are brought from infinity and fixed to a straight line....

General Management
1.2K views

8. You are the attorney for one of the parents of one of the victims of...

Physics
1.2K views

constant A perfectly black body with an initial temperature of 573 K is allowed to...

Algebra
1.2K views

K Evaluate the permutation P n 1 P n 1 Simplify your answer

Accounting
1.2K views

T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; optional end-of-period spreadsheet The unadjusted trial...

Accounting
1.2K views

Trixie Company has the following data for last year: Sales Contribution margin Operating income Average...

Accounting
1.2K views

Both Pinkberry and Red Mango allow customers to "do it-yourself." In other words, customers can...

Accounting
1.2K views

Use the following selected accounts and amounts with normal balances from Andrea Company's adjusted trial...

Accounting
1.2K views

answer ALL A-E box answers 2) Teecorp Company provides the following ABC costing...

Accounting
1.2K views

Accounts receivable, in last years balance sheet, was $342,000, as opposed to $413,000 in the...

Accounting
1.2K views

Isabella, who is 17, worked over the summer at a camp and earned $2,000. She...