The file contains data from a survey of 500 randomly selected households. PLEASE ANSWER PART A AND UTILITIES/DEBT OF B.

The file PO2_35.xlsx contains data from a survey of 500 randomly selected households. For this problem, consider this data set a simple random sample from all possible households, where the number of households in the population is well over 1,000,000. Create a new variable, Total Income, that is the sum of First Income and Second Income. a. For each of the four variables Total Income, Monthly Payment, Utilities, and Debt, find the sample mean. Round your answer to the nearest whole dollar, if necessary. Total Income 0 Monthly Payment $ 20.35 Utilities $ 1.1574 Debt $ 77.822 If each of these is used as an estimate from the corresponding (unknown) population mean, is there any reason to believe that they either underestimate or overestimate the corresponding population means? No b. What are the (approximate) standard errors of the estimates in part b? How can you interpret these standard errors? Round your answers to two decimal places, if necessary. Total Income $ 1326.5 Monthly Payment $ 15.863 Utilities $ 235.65 Debt $ 4307.2 Is the finite population correction required? No Why or why not? than the population size, the finite When the sample size is much smaller population correction is not necessary. C. Is it likely that the estimate of Total Income in part b is accurate to within $1500? Yes How confident are you? Between 50% and 75% confident Hide Feedback Partially Correct Surat .. bold Fume action Ownership 2 2 1 1.100.000 . och han 3 5752 3:16 + WEWE 1 5 CIES coats cos 0 7 2 4 1 1 3 1 1 1 1 2 20.33 o 1 1 1 -17 5300 PSIE 10 11 Du . 9 SSES 1 1 13 1 TAS ESTES 6195 5222 251 4 1 4 ODS SE 2 1 2 + > 2 1 17 TE 1 1 1 nes Fistincome Second come Money Payment $50.00 315 ST) 31.5 192 SITS 511 5560 529.733 521.454 $ 5144 526.00! $17.95 5549 5554 5752 550.00T 51,231 538370 55111 27150 S4064 SE44 Suat 5997 SUS $400 549.1 5117 $29.240 SH.265 16 Sast $4160 5728 55715 10:43 322 SO SATI 559573 $52.0 5001 563. 53 366.36 $57,93 5514 $42.125 -533.640 SM 547205 so 52136 $15. 512,295 $35.091 51.510 5256 100 5244 3272 5201 0 T 1 30 11 22 13 14 15 16 17 18 13 20 21 22 21 24 35 25 27 28 29 20 21 2 1 513765 15.063 235.65 1 + 1 FOROS TE 1 23 5 CARE 25 1 1 1 1 55 2 4 1 1 N 350 RSS O Www 1 1 2 2 2 1 2 4 2 1 4 1 I 4 1 1 1 29 30 31 coreca Cheb scoot 1 1 DE TE TE 53451 5357 59 5254 $164 LE 38 11 . 1 1 1stes . Data