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Question 2. Young Professional Magazine Young Professional magazine was developed for a target audience of recent college graduates who are in their first 10 years

Question 2. Young Professional Magazine Young Professional magazine was developed for a target audience of recent college graduates who are in their first 10 years in a business/professional career. In its two years of publication, the magazine has been fairly successful. Now the publisher is interested in expanding the magazine's advertising base. Potential advertisers continually ask about the demographics and interests of subscribers to Young Professional. To collect this information, the magazine commissioned a survey to develop a profile of its subscribers.

The survey results will be used to help the magazine choose articles of interest and provide advertisers with a profile of subscribers. As a new employee of the magazine, you have been asked to help analyze the survey results.

Some of the survey questions follow.

  • What is your age?
  • Are you: Male, Female?
  • Do you plan to make any real estate purchases in the next two years? Yes, No
  • What is the approximate total value of financial investments, exclusive of your home, owned by you or members of your household?
  • How many stock/bond/mutual fund transactions have you made in the past year?
  • Do you have broadband access to the Internet at home? Yes, No
  • Please indicate your total household income last year.
  • Do you have children? Yes, No
Age Gender Real Estate Purchases? Value of Investments ($) Number of Transactions Broadband Access? Household Income ($) Have Children?
38 Female No 12200 4 Yes 75200 Yes
30 Male No 12400 4 Yes 70300 Yes
41 Female No 26800 5 Yes 48200 No
28 Female Yes 19600 6 No 95300 No
31 Female Yes 15100 5 No 73300 Yes
32 Male No 39700 3 Yes 123400 Yes
32 Male Yes 21900 2 Yes 73900 Yes
26 Female Yes 41900 2 Yes 54300 Yes
26 Male Yes 16100 4 Yes 93100 No
34 Female Yes 18400 11 Yes 60100 No
33 Female No 33800 3 No 48600 No
35 Female Yes 15500 6 No 43500 No
28 Female No 17300 7 Yes 73600 Yes
30 Male No 47900 5 Yes 68200 Yes
30 Female No 28200 3 No 61900 Yes
30 Male Yes 19400 6 No 57600 No
33 Male Yes 31000 12 No 82300 No
28 Male No 21300 6 No 64600 Yes
27 Female No 21300 10 Yes 61100 Yes
23 Female No 21300 7 Yes 31200 Yes
30 Female No 34100 6 Yes 92600 No
28 Male No 32600 7 Yes 68300 No
41 Male Yes 0 10 Yes 35100 No
29 Male Yes 20800 10 Yes 85700 No
33 Female Yes 23100 6 Yes 140300 Yes
30 Male No 39800 9 Yes 108200 Yes
29 Female No 17900 2 No 61100 No
33 Male No 33300 2 No 33900 Yes
30 Female Yes 21800 8 Yes 54400 Yes
30 Male No 54000 7 Yes 61200 No
36 Female Yes 34800 12 No 58000 Yes
33 Female Yes 36100 7 Yes 90700 Yes
28 Female Yes 44300 5 Yes 95200 No
28 Male No 21400 5 No 50500 Yes
28 Male Yes 8600 6 Yes 33800 Yes
35 Male No 23200 3 No 147400 No
31 Male No 24800 4 No 92600 Yes
33 Female No 26600 5 Yes 66200 No
32 Male No 33100 8 No 45700 No
28 Male No 27000 4 No 60500 Yes
27 Male No 48700 6 No 110600 No
30 Female Yes 17100 4 No 60300 Yes
29 Male No 19900 6 No 75700 No
28 Male No 13200 9 No 70100 Yes
29 Female Yes 32400 6 No 42100 Yes
32 Female No 14200 5 Yes 41700 Yes
33 Male No 20100 5 No 96900 No
23 Male Yes 32000 5 Yes 65700 No
29 Female No 41900 3 No 50200 No
31 Male No 12000 3 No 61700 No
33 Female No 14000 6 No 44500 Yes
37 Female No 10000 4 Yes 51900 No
28 Female No 27200 5 Yes 119100 Yes
27 Female Yes 34500 4 Yes 49200 No
33 Female No 26000 6 Yes 39000 Yes
31 Female No 53400 3 Yes 35000 No
30 Male No 23100 7 Yes 104700 Yes
23 Male No 24900 5 No 49300 No
33 Male No 10900 10 Yes 74000 No
31 Female No 52500 2 Yes 57100 Yes
24 Female No 24600 16 Yes 51400 Yes
35 Female No 28800 6 No 62100 Yes
36 Female Yes 37300 11 Yes 103000 Yes
24 Male Yes 21100 9 Yes 97900 No
25 Male No 40900 3 No 123100 No
26 Female No 24700 7 Yes 322500 No
31 Male No 33600 8 Yes 54800 Yes
26 Male Yes 20000 6 No 66500 Yes
26 Male No 23900 2 No 33700 Yes
28 Male Yes 11700 8 No 73600 Yes
26 Female No 19200 5 Yes 71300 Yes
34 Male No 11900 6 No 74200 No
32 Male No 17700 8 Yes 70000 Yes
30 Male No 23900 6 Yes 40800 No
29 Female Yes 27500 4 Yes 72500 Yes
23 Male Yes 25300 4 No 53300 No
28 Female No 66900 5 No 45600 No
25 Male No 18800 5 Yes 73900 Yes
35 Male No 24400 3 Yes 83600 No
31 Male No 45500 9 Yes 124700 No
35 Male Yes 54700 3 Yes 101600 No
32 Female No 32200 4 No 205900 Yes
29 Male No 16200 3 Yes 69700 No
34 Female No 16000 9 No 95700 No
30 Female Yes 24000 3 No 46100 Yes
29 Male No 28800 3 Yes 118600 No
42 Male No 14100 5 Yes 65400 No
37 Female Yes 17700 11 Yes 149300 Yes
32 Male No 29800 7 Yes 125000 No
33 Female Yes 27200 3 Yes 39800 No
36 Male Yes 43000 2 No 83500 Yes
32 Female Yes 15500 7 Yes 38700 Yes
35 Male Yes 8700 6 No 102400 No
20 Male No 13900 14 Yes 57700 No
30 Male No 14200 6 Yes 16200 No
31 Female Yes 27100 3 No 43100 No
28 Male Yes 22300 3 No 43700 No
24 Female Yes 29500 4 Yes 39600 Yes
30 Male No 18800 2 Yes 127500 No
23 Female Yes 26400 9 Yes 33500 No
29 Male Yes 16400 5 Yes 48100 Yes
33 Male No 39500 3 Yes 52800 No
24 Male Yes 20900 6 Yes 54800 No
25 Female No 52800 5 Yes 46500 No
38 Male No 36500 4 Yes 60400 No
22 Female No 30400 11 Yes 202400 Yes
32 Female No 39800 7 No 71300 No
28 Female Yes 18100 9 No 62800 No
32 Male Yes 69500 7 No 43900 Yes
33 Female No 33000 5 Yes 52200 Yes
32 Female Yes 32100 3 No 64400 Yes
24 Male Yes 15200 8 No 77400 Yes
23 Female Yes 49800 3 Yes 65900 No
23 Male No 28100 6 No 54100 Yes
38 Male No 15200 6 Yes 77400 Yes
29 Male No 30800 3 Yes 85900 Yes
28 Male No 21200 3 No 148600 No
29 Male No 24600 4 Yes 82100 No
36 Male Yes 24700 9 Yes 64400 Yes
35 Female Yes 26300 16 No 86200 No
34 Female Yes 32200 6 No 177100 Yes
23 Male No 20300 6 Yes 68300 No
31 Female No 60900 6 Yes 67900 Yes
28 Male No 15800 11 Yes 57300 Yes
33 Female No 31700 6 Yes 83600 No
31 Male Yes 0 5 Yes 77500 No
26 Female Yes 20900 9 Yes 61700 Yes
38 Female No 37900 12 No 85600 Yes
28 Male Yes 22400 7 Yes 59900 Yes
27 Male No 26600 5 Yes 43100 No
31 Male Yes 20800 10 No 65700 No
34 Male No 31100 7 Yes 80500 Yes
29 Male No 31200 5 Yes 88400 Yes
27 Male No 0 2 No 40200 No
26 Male Yes 38900 7 Yes 84000 Yes
33 Male Yes 29500 4 Yes 34400 Yes
33 Male No 16100 5 No 55800 Yes
34 Male No 15800 7 Yes 64900 Yes
31 Male No 27500 4 Yes 41100 Yes
37 Female No 13000 7 No 39100 Yes
27 Male Yes 68100 5 No 58200 No
32 Male Yes 18500 7 Yes 46500 Yes
25 Female No 27100 2 Yes 45100 Yes
31 Female No 25900 5 Yes 69900 Yes
38 Male No 18400 2 No 63700 No
31 Female No 59200 4 Yes 40500 No
28 Female No 67900 5 No 62600 Yes
29 Female No 36700 7 Yes 73400 Yes
34 Female No 32400 9 Yes 35000 No
35 Female Yes 10300 4 Yes 114000 No
30 Male No 39300 7 Yes 70800 No
32 Female No 13800 6 Yes 60300 Yes
31 Male No 11100 4 Yes 78700 No
29 Female No 28600 2 No 179700 No
31 Male No 22100 6 Yes 157200 Yes
31 Female No 16700 6 Yes 67300 No
22 Female Yes 19400 6 Yes 49800 No
19 Male Yes 54600 4 Yes 43400 Yes
31 Female Yes 41500 2 Yes 71100 Yes
22 Female No 23300 9 No 42100 Yes
26 Male No 29700 8 Yes 42200 Yes
34 Male Yes 33200 2 Yes 63300 No
37 Male Yes 56300 5 No 55700 No
36 Female No 25900 5 Yes 107900 No
27 Female Yes 63500 6 Yes 44800 Yes
32 Male Yes 18700 7 Yes 94700 No
27 Female No 49700 4 Yes 112700 No
32 Male Yes 15000 5 Yes 114900 Yes
24 Female Yes 8200 7 No 112700 Yes
38 Female Yes 36300 9 No 60900 No
33 Female No 50200 7 Yes 137800 No
19 Male No 13500 10 Yes 47200 Yes
33 Male Yes 37500 4 Yes 70900 Yes
25 Female No 26800 7 No 52000 No
27 Male No 30300 5 Yes 166500 Yes
35 Female No 46300 18 Yes 88000 No
29 Male Yes 14400 9 No 41800 No
31 Male Yes 0 4 Yes 60300 No
29 Female Yes 18800 5 Yes 53400 Yes
31 Female No 40900 5 No 46700 Yes
32 Male Yes 23300 7 Yes 59600 Yes
22 Female No 11900 4 Yes 27700 Yes
29 Male Yes 28100 10 No 48900 Yes
28 Female No 20400 8 No 56600 No
26 Male No 14900 7 No 32500 No
33 Female No 33900 3 Yes 74500 Yes
35 Male No 15100 6 No 69800 No
27 Male No 133400 5 Yes 48100 Yes
33 Female Yes 18300 7 Yes 95900 Yes
30 Female Yes 28700 10 Yes 76500 No
28 Male Yes 50900 6 Yes 43700 No
35 Female No 25600 4 Yes 72700 Yes
34 Female Yes 30700 0 Yes 140100 No
28 Male Yes 64300 5 Yes 76600 No
30 Male Yes 67200 7 No 65300 Yes
37 Male No 62200 11 Yes 161100 Yes
32 Male No 33100 12 No 64900 No
21 Male No 26000 4 No 59800 Yes
31 Female Yes 18400 5 No 87900 Yes
31 Male Yes 53000 12 Yes 174900 Yes
23 Male No 46300 3 Yes 40700 Yes
34 Male Yes 32700 5 No 36700 Yes
31 Male No 50900 4 Yes 167800 No
28 Female No 19200 2 Yes 168500 No
30 Male Yes 18300 3 Yes 112100 Yes
25 Male No 17800 2 Yes 65500 No
32 Female Yes 41800 6 Yes 73500 No
30 Male Yes 7100 7 Yes 59100 Yes
28 Male Yes 15500 8 Yes 73900 No
33 Male No 22900 4 Yes 120800 Yes
34 Female Yes 10000 4 No 25100 Yes
34 Female No 53300 6 Yes 137900 Yes
33 Female Yes 32400 7 Yes 70200 Yes
26 Male No 85600 2 Yes 90900 No
28 Female Yes 26400 6 No 65500 No
23 Male Yes 30400 5 Yes 86200 No
31 Male Yes 24000 8 Yes 45900 No
28 Female No 17500 0 No 76000 No
29 Male No 11000 5 Yes 82700 Yes
30 Female No 9400 5 No 57400 Yes
30 Male No 34700 12 No 53700 No
31 Female Yes 44200 3 No 29900 Yes
22 Male No 20700 5 No 94800 Yes
34 Male No 29000 3 No 67300 Yes
30 Female No 29800 3 Yes 41200 Yes
34 Female Yes 95200 21 No 70400 Yes
25 Male Yes 21500 5 Yes 120600 Yes
32 Female No 23100 4 No 63900 No
31 Female Yes 13900 5 Yes 98800 Yes
29 Female No 28900 7 Yes 53300 Yes
28 Female No 70400 8 No 30000 Yes
26 Female No 12400 4 Yes 93200 Yes
26 Male Yes 27800 9 Yes 84100 No
26 Female No 19900 5 Yes 124000 Yes
29 Female No 28000 7 Yes 73400 Yes
32 Female Yes 75000 6 Yes 45500 No
37 Female No 14000 9 Yes 88400 Yes
32 Male No 20900 4 Yes 74900 No
33 Female No 47200 6 Yes 51700 Yes
36 Female No 57200 5 No 78700 Yes
30 Male Yes 42900 7 Yes 30700 Yes
31 Male Yes 44200 1 Yes 56000 Yes
28 Female Yes 28000 4 Yes 88400 Yes
25 Male Yes 24500 6 Yes 201700 Yes
29 Male No 18100 9 Yes 71600 Yes
31 Female No 20900 7 No 59000 Yes
32 Male No 32100 6 No 57300 Yes
32 Male Yes 44500 6 No 91900 Yes
38 Male Yes 20100 4 Yes 68300 Yes
35 Male Yes 36000 8 No 93900 No
34 Male No 12600 12 Yes 61200 No
33 Male Yes 19300 6 No 128800 Yes
32 Female Yes 33300 13 Yes 77900 No
26 Female No 23600 2 No 67700 Yes
23 Female No 49400 7 Yes 63300 Yes
32 Male No 23700 1 Yes 55000 No
25 Female Yes 35700 4 No 100700 Yes
27 Male Yes 19900 10 No 148000 Yes
22 Male No 30600 9 No 59600 No
33 Female No 24600 2 No 51600 No
33 Male Yes 18000 1 Yes 48400 No
29 Male No 0 6 Yes 58500 Yes
33 Female No 27600 4 Yes 153000 No
33 Female No 48800 4 No 86800 Yes
42 Male No 30300 4 No 46400 Yes
28 Female Yes 57700 6 Yes 36900 No
27 Female No 29200 3 Yes 46900 Yes
35 Male Yes 16600 2 Yes 57400 No
31 Female No 16800 5 No 91200 No
32 Female Yes 21400 8 Yes 62100 Yes
34 Male No 12500 7 Yes 38800 Yes
24 Female Yes 49300 13 No 90200 Yes
30 Male No 9100 5 Yes 47100 Yes
28 Male No 19200 8 No 159200 Yes
32 Female Yes 15900 5 Yes 52700 Yes
34 Male Yes 40200 13 Yes 73400 No
31 Male Yes 55800 5 Yes 58900 No
33 Male Yes 27200 3 Yes 81100 Yes
31 Female Yes 20100 4 No 68400 Yes
29 Male No 17300 3 No 55700 Yes
25 Male Yes 42100 7 No 45400 No
29 Male No 39500 5 Yes 59600 No
25 Female No 21400 2 Yes 47700 Yes
30 Female No 10200 11 Yes 57200 Yes
28 Female Yes 18300 11 Yes 47300 Yes
32 Female No 20600 4 Yes 58300 Yes
34 Female No 63400 17 Yes 47800 Yes
33 Female Yes 38200 5 Yes 61600 No
24 Male No 50400 7 Yes 64000 Yes
30 Female No 9500 5 No 87400 Yes
25 Male No 27900 6 Yes 56200 Yes
26 Male No 18100 4 Yes 100600 No
31 Male No 39500 5 Yes 51100 No
29 Male No 23400 5 Yes 90100 No
31 Male No 34100 6 Yes 50800 Yes
36 Male No 17500 6 No 62500 No
34 Female Yes 12600 7 No 37400 No
24 Male No 29200 3 Yes 102700 No
28 Male Yes 42600 4 No 68400 No
34 Female Yes 18100 4 No 68800 No
31 Male No 11200 7 Yes 108000 No
31 Male Yes 30500 9 Yes 200500 No
30 Male No 39300 9 No 123000 No
38 Female No 23100 7 Yes 64300 Yes
29 Male No 38400 2 Yes 72600 No
21 Male Yes 35300 6 Yes 81500 No
32 Female No 15800 3 No 57000 Yes
27 Male Yes 24300 6 Yes 101500 No
29 Male Yes 24700 2 Yes 67600 No
32 Male No 30800 7 No 70200 No
32 Male Yes 17400 3 No 64800 No
29 Female No 9100 2 Yes 70800 No
35 Male Yes 23300 2 Yes 50300 Yes
36 Male Yes 15000 2 Yes 30300 Yes
32 Male No 0 14 No 61700 Yes
25 Female Yes 31300 7 No 103500 No
29 Male Yes 34500 8 No 33400 No
22 Male Yes 26300 7 Yes 51700 No
28 Male No 21900 7 Yes 76400 Yes
29 Female Yes 27100 7 Yes 47400 Yes
29 Male No 59300 11 Yes 118800 Yes
29 Female No 34500 9 Yes 61300 Yes
32 Female Yes 63200 8 No 97900 No
30 Male No 7000 3 Yes 67400 Yes
29 Female No 18100 7 No 82000 No
30 Female No 15500 5 Yes 60700 No
38 Male Yes 11800 4 No 98800 Yes
32 Female Yes 27700 3 Yes 61800 No
27 Male No 14600 6 No 49600 Yes
29 Male No 17500 3 Yes 54700 Yes
28 Female Yes 37900 7 Yes 153300 No
33 Male Yes 13800 9 Yes 94400 Yes
32 Male Yes 22100 9 Yes 39500 Yes
35 Female Yes 24200 6 Yes 72400 Yes
27 Male Yes 19500 6 Yes 93200 Yes
29 Male Yes 23300 4 Yes 161400 No
30 Male No 29000 5 No 56100 No
34 Female No 53200 5 No 95000 Yes
24 Male No 15300 6 Yes 94100 Yes
30 Female Yes 25800 8 No 24300 Yes
28 Male No 34200 4 Yes 49400 No
23 Female No 25000 7 Yes 41200 No
26 Female Yes 24500 7 No 81800 No
30 Male No 25500 6 No 62400 No
26 Male No 19400 14 No 117800 Yes
24 Female No 30600 11 Yes 100100 Yes
33 Female No 21100 9 No 94100 Yes
30 Female No 83300 13 Yes 59300 Yes
25 Female Yes 50700 5 Yes 89500 Yes
24 Male No 29600 2 No 88900 Yes
35 Male Yes 29700 6 Yes 53200 No
34 Female Yes 12100 6 No 58600 No
36 Male No 25000 2 No 54200 No
29 Male No 37200 5 Yes 38500 No
27 Female No 16600 1 No 69800 Yes
30 Male No 58000 2 Yes 66200 No
25 Male Yes 23400 4 Yes 78900 No
32 Male Yes 21500 3 No 87200 No
29 Male Yes 33800 15 Yes 79300 No
27 Male No 18400 7 No 51800 No
27 Male Yes 13100 11 Yes 70900 No
33 Male No 18100 18 Yes 110900 No
29 Male Yes 34300 2 No 109400 Yes
30 Male Yes 23500 8 No 43800 No
32 Male Yes 19200 6 No 49700 Yes
23 Female Yes 16900 4 Yes 149300 Yes
26 Male No 22100 5 Yes 68900 No
34 Female Yes 27000 3 Yes 50100 No
35 Male Yes 65200 2 No 32400 Yes
31 Female Yes 11200 5 Yes 82700 Yes
29 Female No 24800 12 No 104300 Yes
25 Male Yes 46500 9 Yes 49600 No
34 Male Yes 20000 7 Yes 36500 No
38 Female No 16200 1 Yes 65500 Yes
34 Male No 27200 9 Yes 110800 Yes
32 Female No 11100 3 No 38100 No
33 Female Yes 18500 2 Yes 70700 Yes
27 Male No 21300 1 Yes 39800 Yes
30 Male No 19400 3 Yes 60600 Yes
32 Female Yes 17000 5 No 48200 Yes
33 Male No 28700 4 No 108700 Yes
26 Female Yes 20700 4 No 71300 Yes
29 Male No 17100 4 Yes 110800 Yes
36 Male No 21000 5 Yes 120300 Yes
38 Male Yes 21900 6 Yes 130000 Yes
31 Female Yes 61200 7 Yes 60300 Yes
31 Female No 10200 8 No 70300 No
31 Male Yes 23600 5 No 100700 No
30 Male No 23900 4 No 72300 Yes
30 Male No 28100 5 Yes 45800 No
24 Male No 23600 6 No 51600 Yes
34 Male No 70800 10 Yes 48200 No
39 Male No 25100 14 No 87900 Yes
27 Male No 22300 7 No 89600 No
31 Female Yes 36200 6 Yes 56100 Yes
32 Male Yes 20600 12 Yes 93600 Yes
37 Male Yes 38300 4 No 100300 Yes
29 Male No 13800 5 No 96000 No
31 Male Yes 47000 10 Yes 105500 No
27 Male No 30300 4 No 76400 No
31 Female Yes 37100 6 Yes 77100 Yes
32 Female Yes 64100 4 Yes 62300 Yes
30 Male Yes 19300 6 No 52700 No
26 Female Yes 27400 4 Yes 59000 No
32 Female Yes 23900 2 Yes 42200 No
32 Female No 27400 7 Yes 83500 No
26 Female Yes 14400 3 Yes 28200 Yes
24 Male Yes 36000 4 Yes 103500 No
25 Female Yes 30300 6 No 35100 No
28 Female Yes 30500 11 Yes 36800 Yes

A) Compute the sample mean and standard deviation for the following variables: Age, Value of Investments ($), Number of Transactions, and Household Income ($).

Age Value of Investments ($) Number of Transactions Household Income ($)
Sample Mean
Sample Standard Deviation

B) Based on your calculations in part (a), develop a 95% confidence interval for the mean Age of subscribers. How do you interpret this confidence interval to senior management at Young Professional magazine?

C) Based on your calculations in part (a), develop a 99% confidence interval for the mean Household Income ($) of subscribers. How do you interpret this confidence interval to senior management at Young Professional magazine?

D) Compute the sample proportion for the following in the survey:

  • Proportion of males (Gender: Male)
  • Proportion of respondents who plan to make a real estate purchase in the next two years (Real Estate Purchases: Yes)
  • Proportion of respondents who have broadband access to the Internet at home (Broadband Access: Yes)
  • Proportion of respondents who have children (Have Children: Yes)
Gender: Male Real Estate Purchases: Yes Broadband Access: Yes Have Children: Yes
Sample Proportion

E) Based on your calculations in part (d), develop a 95% confidence interval for the proportion of subscribers who have broadband Internet access at home. How do you interpret this confidence interval to senior management at Young Professional magazine?

F) Based on your calculations in part (d), develop a 99% confidence interval for the proportion of subscribers who have children. How do you interpret this confidence interval to senior management at Young Professional magazine?

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