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FCAT scores and poverty. In the state of Florida,

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich ISBN: 9780321826237 51

Solution for problem 24E Chapter 11

Statistics for Business and Economics | 12th Edition

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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

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Problem 24E

FCAT scores and poverty. In the state of Florida, elementary school performance is based on the average score obtained by students on a standardized exam called the Florida Comprehensive Assessment Test (FCAT). An analysis of the link between FCAT scores and sociodemographic factors was published in the Journal of Educational and Behavioral Statistics (Spring 2004). Data on average math and reading FCAT scores of third graders, as well as the percentage of students below the poverty level, for a sample of 22 Florida elementary schools are listed in the table below.

a. Propose a straight-line model relating math score (y) to percentage (x) of students below the poverty level.

b. Use the method of least squares to fit the model to the data in the FCAT file.

c. Graph the least squares line on a scatterplot of the data. Is there visual evidence of a relationship between the two variables? Is the relationship positive or negative?

d. Interpret the estimates of the y-intercept and slope in the words of the problem.

e. Now consider a model relating reading score (y) to percentage (x) of students below the poverty level. Repeat parts a–d for this model.

Step-by-Step Solution:
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Economics of Poverty Week 9 Wealth and income: Stock vs Flows (discussion of farmer vs athlete from previous weeks) Income – flow – corresponds to the quantity of goods and services produced and distributed each year. - Labor income - Capital income Primary income – income before taxes and gov’t transfers Disposable income – income after taxes and transfers Wealth – capital – stock – corresponds to total wealth owned at a given point in time. Comes from the wealth appropriated or accumulated in the past. Nonhuman net worth – the sum of nonfinancial and financial assets, net of financial liabilities. National wealth – private wealth and gov’t wealth Family wealth – indicator of well-being - Owner-occupied housing provides services directly to its owner - Ass

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Chapter 11, Problem 24E is Solved
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Textbook: Statistics for Business and Economics
Edition: 12
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

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FCAT scores and poverty. In the state of Florida,