Question
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started