Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Global Social Mobility Report 2020 ranked Singapore 20th out of 82 countries studied. After reading the report, Mr. Tan, a student at the Singapore

The Global Social Mobility Report 2020 ranked Singapore 20th out of 82 countries studied. After reading the report, Mr. Tan, a student at the Singapore University of Social Sciences, was interested to estimate income mobility across generations in Singapore. He surveyed a random sample of 120 students from the Singapore University of Social Sciences, and collected data on monthly income of their father and their oldest sibling who is currently working in 2021. He managed to get 72 pairs of income data, which are given in the Excel data file "BUS105_mobility". Based on his observation, he hypothesized that rich children have rich fathers.

Question 1 (a) Describe the 90% confidence interval of the mean monthly income of children and fathers in 2021, respectively. Interpret and discuss whether Mr. Tan can conclude that the mean monthly income of fathers is higher than that of children. Please round your answer to zero decimal places. (20 marks)

For question 1, please assist to show excel output and manual calculations, also provide explanation if Mr Tan can conclude that the mean monthly income of fathers is higher than that of children

No income_child income_father
1 2100 900
2 1200 1200
3 4500 4770
4 2700 3180
5 3000 2385
6 4500 6360
7 4500 4770
8 3000 15900
9 1500 1590
10 2520 4770
11 4500 11130
12 4500 4770
13 1500 7950
14 4500 4770
15 3000 3180
16 1200 1908
17 3750 5088
18 3000 6010
19 2850 3498
20 3750 6360
21 2700 3975
22 4500 7950
23 1500 9540
24 3150 3180
25 3000 3180
26 3000 3180
27 2250 2385
28 1500 3180
29 4500 4770
30 4500 1590
31 1200 1908
32 3000 4770
33 1800 3975
34 4500 4770
35 3000 3180
36 2250 4770
37 750 954
38 1800 6000
39 3000 1500
40 630 600
41 600 600
42 2400 2400
43 600 600
44 4500 1500
45 450 450
46 1500 1500
47 2400 1800
48 300 600
49 900 900
50 900 300
51 1200 1500
52 1710 900
53 240 360
54 3000 3300
55 1800 2400
56 1500 1200
57 2400 1350
58 1500 450
59 1800 150
60 3600 1050
61 600 900
62 360 750
63 900 900
64 6000 3600
65 2400 1200
66 600 600
67 6000 6000
68 1500 1500
69 1500 2400
70 450 900
71 150 180
72 3000 3000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mathematical Applications For The Management, Life And Social Sciences

Authors: Ronald J. Harshbarger, James J. Reynolds

12th Edition

978-1337625340

More Books

Students also viewed these Mathematics questions

Question

Does the number represent a probability?

Answered: 1 week ago

Question

Define failure. (p. 273)

Answered: 1 week ago