At the Stock and Watson (Http://www

question 55

Essay

At the Stock and Watson (http://www.pearsonhighered.com/stock_watson)website go to Student Resources and select the option "Datasets for Replicating Empirical Results." Then select the "CPS Data Used in Chapter 8" (ch8_cps.xls)and open it in Excel. This is a rather large data set to work with, so just copy the first 500 observations into a new Worksheet (these are rows 1 to 501).
In the newly created Worksheet, mark A1 to A501, then select the Data tab and click on "sort." A dialog box will open. First select "Add level" from one of the options on the left. Then select "sort by" and choose "Northeast" and "Largest to Smallest." Repeat the same for the "South" as a second option. Finally press "ok."
This should give you 209 observations for average hourly earnings for the Northeast region, followed by 205 observations for the South.
a. For each of the 209 average hourly earnings observations for the Northeast region and separately for the South region, calculate the mean and sample standard deviation.
b Use the appropriate test to determine whether or not average hourly earnings in the Northeast region the same as in the South region.
c Find the 1%, 5%, and 10% confidence interval for the differences between the two population means. Is your conclusion consistent with the test in part (b)?
d In all three cases of using the confidence interval in (c), the power of the test is quite low (5%). What can you do to increase the power of the test without reducing the size of the test?

Recognize the regulatory bodies and regulations affecting consumer transactions and negotiable instruments.

Understand the concept of tolerance in mechanical dimensioning.

Identify and use abbreviations and symbols related to dimensioning and tolerancing.

Differentiate between different types of tolerances (e.g., unilateral, bilateral).

---

Definitions:

Incorporation Process

The legal concept in which the U.S. Supreme Court has applied the protections of the Bill of Rights to the states using the Fourteenth Amendment.

Fourteenth Amendment

A constitutional amendment adopted in 1868 that grants citizenship to all persons born or naturalized in the United States, including former slaves, and provides all citizens with “equal protection under the laws.”

State Restrictions

Laws or regulations imposed by state governments to limit or control certain activities or behaviors.

Establishment Clause

The Establishment Clause is part of the First Amendment to the US Constitution, prohibiting the government from making any law respecting an establishment of religion, thereby ensuring a separation of church and state.