Price | Quantity supplied |
14,5 | 7 |
13,4 | 8 |
12,7 | 6 |
16,4 | 10 |
21 | 15 |
13,9 | 11 |
17,3 | 21 |
12,5 | 10 |
16,7 | 14 |
22,7 | 20 |
14,5 | 12 |
12,3 | 10 |
15,6 | 8 |
20 | 14 |
14,2 | 8 |
12,6 | 6 |
18,2 | 12 |
17,3 | 8 |
14,3 | 7 |
11 | 6 |
14,5 | 7 |
15,2 | 8 |
16,2 | 8 |
14,8 | 7 |
14,3 | 7 |
11,9 | 6 |
12 | 6 |
14,1 | 7 |
17 | 8 |
18 | 9 |
SHOULD YOU DO CALCULATIONS, USE EXCEL AND POST IT AS WELL
Price Quantity supplied Total
14.5 7 101.5
13.4 8 107.2
12.7 6 76.2
16.4 10 164
21 15 315
13.9 11 152.9
17.3 21 363.3
12.5 10 125
16.7 14 233.8
22.7 20 454
14.5 12 174
12.3 10 123
15.6 8 124.8
20 14 280
14.2 8 113.6
12.6 6 75.6
18.2 12 218.4
17.3 8 138.4
14.3 7 100.1
11 6 66
14.5 7 101.5
15.2 8 121.6
16.2 8 129.6
14.8 7 103.6
14.3 7 100.1
11.9 6 71.4
12 6 72
14.1 7 98.7
17 8 136
18 9 162
Justify the selection of the specific data analysis method of inferential statistics. Recommendation – use the...
Specify the level of significance (Type I error associated with the null hypothesis) (NULL HYPHOTHESIS IS THAT THERE IS THAT THERE IS A CORRELATION BETWEEN PRICE AN Q SUPPLIED) Price Quantity supplied 14,5 7 13,4 8 12,7 6 16,4 10 21 15 13,9 11 17,3 21 12,5 10 16,7 14 22,7 20 14,5 12 12,3 10 15,6 8 20 14 14,2 8 12,6 6 18,2 12 17,3 8 14,3 7 11 6 14,5 7 15,2 8 16,2 8 14,8 7...
Please identify the type of data that you are working with – on what type of measurement scale(s) where the selected variables measured by the original data collectors. (As you work with the dataset given by me, use your educated guess). Price Quantity supplied 14,5 7 13,4 8 12,7 6 16,4 10 21 15 13,9 11 17,3 21 12,5 10 16,7 14 22,7 20 14,5 12 12,3 10 15,6 8 20 14 14,2 8 12,6 6 18,2 12 17,3 8...
Formulate the null and research (alternative) hypothesis from the belove dataset. Research question is as follows; "What is the relationship between the price of a product and the quantinty supplied between a specific time period" Price Quantity supplied 14,5 7 13,4 8 12,7 6 16,4 10 21 15 13,9 11 17,3 21 12,5 10 16,7 14 22,7 20 14,5 12 12,3 10 15,6 8 20 14 14,2 8 12,6 6 18,2 12 17,3 8 14,3 7 11 6 14,5 7...
Describe the data with the tools of descriptive statistics, using both numerical as well as graphical methods. In addition to reporting and commenting on the values central tendency and diagrams, please also justify the choice of method (e.g. why a particular kind of measure of central tendency was selected and the chosen graphic is appropriate to use in this context Price Quantity supplied 14,5 7 13,4 8 12,7 6 16,4 10 21 15 13,9 11 17,3 21 12,5 10 16,7...
Nul hypothesis is that there is correlation between price and Q supplied. Determine the test criteria: 7.1. Specify the level of significance (Type I error associated with the null hypothesis), 7.2. Determine the test statistic (the appropriate statistical test as mentioned under point 5 above), 7.3. Determine the critical values (and region(s) if applicable), Calculate the value of the test statistic (obtained valuE) Make a decision about the null and research hypothesis by comparing the obtained value to the critical...
Belove you can find explanation for the dataset; what kind of data it is. The question is to figure out an research question for econometrics course. E.g. what is the erlationship between the two variables The Below datat tells the price of a service or a good and the quantity of supply for that good or service at a particular time. It states that the price of a good or service is considered from different month to a nother month,...
Justify the selection of the specific data analysis method of inferential statistics for this data set. Shift Stress 1 2 1 5 1 7 1 8 1 5 1 4 1 3 1 6 1 5 1 4 2 4 2 5 2 3 2 6 2 16 2 11 2 9 2 8 2 12 3 7 3 13 3 10 3 16 3 11 3 11 3 7 3 3 3 10 3 15 3 12