...Statistics in Economics The Rivalry: Wins per Season Phillies vs. Mets Throughout the years two teams laid the groundwork for what would be considered one of the greatest rivalries of all time. Baseball is America’s pastime and one of my favorite sports. I decided to do an in-depth statistical analysis of both team’s histories regarding wins since 1965. Surprisingly both teams, the Philadelphia Phillies and the New York Mets, have strong numbers but the Phillies came out on top when comparing both data sets. The Phillies have a mean number of wins at 79.72 and the Mets with a mean of 77.28 wins. So, by looking at these data sets from a comparative angle, the Phillies come out on top with an average of about 2-3 wins per season. Taking a look at the medians, you are able to see that Phillies also have a higher mean of 80.5 wins as opposed to the Mets’ 78 wins. By looking at the easy to find statistical values you are able to see which team has been statistically better throughout the past 45 years. After I took a look at the descriptive statistics I ran three different tests: the F-test, the t-test, and the empirical tests to test for each data set’s normality. The first test that I ran in Excel was the F-test, which is a test comparing statistical models to identify the model that best fits the population from which the data was sampled. My results of the F-test came out with a high variance for each team: the Phillies with 133.41 and the Mets with 220.21...
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...Introduction The current state of the world economy is quite uncertain. Economic statistics that governments and other financial institutions use to project the economy imply that the world economy is shrinking. Since 2008, the state of the American economy has not been attractive. For instance, the United States economy has not registered any significant growth for the last three years. The 2011 second quarter results indicated that gross domestic product improved by 1%. At the same time, there was slight increase in business fixed investment sector. This was mainly attributed to good performance in software and equipment. In general, the economy seems to be headed for recovery (United Nations, 2010). There were increased product and services exports as well as over growth in consumer spending. Overall federal government spending increased. This was as a result of increased government spending in military. The issue of oil and turmoil in oil producing countries especially in North Africa has contributed negatively to the economy. High energy costs mean that most sections of the economy will experience high production costs. Final products will be more costly to the consumer and thus leading to reduced consumer spending. A broader look at the state of the economy reveals that the economy is headed for a recovery. Most core sections of the economy have begun to register growth meaning that soon the economy will bounce back (United Nations, 2010). Macroeconomic Snapshots...
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...Handelshögskolan i Stockholm 2013-04-23 Projektarbete på kurs NDH802 VT 2013 – Delrapport 1 1. Introduktion Projektarbetet syftar till att med statistik metodik, ge förmåga att sammanställa, beräkna sammanfattade mått och presentera olika slag av datamaterial. Syftet är också att ge förmåga att göra enklare sannolikhetsberäkningar samt på basis av statistisk bedömningsmetodik, dra slutsatser om okända egenskaper hos olika typer av populationer. Tonvikten läggs på förståelse och aktiv tillämpning av de statistiska modellerna och användning av statistisk programvara (SPSS). 2. Beskrivning av vårt primära kluster Beskriv ert val av variabler. Ni väljer själva vilka variabler som ni anser vara relevanta, men ni måste inkludera Q17_1 – Q17_23, Q25, Q27 – Q30 och Q34 samt ”dagar” och ”ålder”. 2.1 Varibel Q17 När man är på semester utomlands finns det möjlighet att ägna sig åt många olika aktiviteter. Nedan anges ett antal sådana aktiviteter. Vi ska nu demostrera i vilken utsträckning dessa aktiviteter intresserar individerna i vårt kluster. * Notera här att normalfördelningen kan användas för att approximera sannolikhetsfunktionerna för ett brett intervall av stokastiska variabler. * Det vi kan konstatera är att en stor andel av resenärerna i vårt segment föredrar att under semestern njuta av vädret, ha tillgång till en strand och ta del av det lokala köket. Det som inte uppskattas lika mycket under semestern är golf, ridning, segling, alkoholen och att umgås...
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...CORAL DIVERS RESORT Introduction Coral Divers Resort had a comfortable niche in the scuba diving industry, one that had been enhanced by its owner, Jonathan Greywell's promotional strategy. According to the case study,” over the years, Greywell had established a solid reputation for the Coral Divers Resort as a safe and knowledgeable scuba diving resort. It offered not only a diverse selection of diving activities, but a beachfront location. As a small well-regarded all-around dive resort in the Bahamas, many divers had come to prefer his resort to other, crowded tourists resorts in the Caribbean. "Greywell found this niche by creating short weekend and midweek diving ventures, a service that intrigued the public. Coral Divers Resort has targeted both the aficionado diver, and the tyro, both of which want maximum diving pleasure for minimum expense. The main issue in this case is what Greywell should do to enhance business, which has become increasingly flat. This paper shall consider some of the strategic options open to him, after first performing this abbreviated S.W.O.T. analysis. A classic method of performing competitive analyses of any new, emerging or maturing products the use of a SWOT analysis that stands for Strengths, Weaknesses, Opportunities, and Threats. This analysis of Coral Divers Club will use this method. STRENGTHS * The industry sector (sports diving) is strong and getting stronger.* Greywell has developed a good name and reputation in the industry.* the...
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...Economics 30330: Statistics for Economics Problem Set 8 - Suggested Solutions University of Notre Dame Instructor: Julio Gar´ ın Spring 2012 Hypothesis Testing (80 Points) 1. Consider the following hypothesis test: H0 : µ ≥ 20 HA : µ < 20 A sample of 40 provided a sample mean of 19.4. The population standard deviation is 2. (a) Create a 95% confidence interval for the mean. We know σ, therefore we should use the z − table. This is a one-tailed (lower tail) test, so the 95% confidence interval will be given then by σ x − z.05 √ , ∞ ¯ n 2 19.4 − 1.65 √ , ∞ 40 The 95% confidence interval is µ ∈ [18.878, ∞). (b) What is the p-value? The p-value is the area in the lower tail. First, we calculate the z-value: z= 19.4 − 20 √ = −1.9 2/ 40 Using the normal table with z = -1.9, p-value =.0287. (c) At α = 0.01, what is your conclusion? p-value > .01, so we fail reject H0 at the 99% level. (d) What is the rejection rule using the critical value? What is your conclusion? c Reject H0 at the 99% level if z ≤ zα =-2.33. In this example, -1.9 > -2.33, so we fail to reject H0 at the 99% level. 2. Consider the following hypothesis test: H0 : µ = 15 HA : µ = 15 A sample of 50 provided a sample mean of 14.5. The population standard deviation is 3. 1 (a) Create a 95% confidence interval for the mean. We know σ, therefore we should use the z − table. This is a two-tailed test, so the 95% confidence interval will be given then by σ σ x − z.025 √ , x +...
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...Reflection Economic Forecasting ECO/372 May 20, 2013 Jamey Burnett Economic Forecasting Economic Forecasting is a process, which is used for making predictions about the economy. Economic forecasting is used to predict Gross Domestic Product, inflation, and unemployment ("Us Department Of Commerce Bureau Of Economic Analysis", n,d.). Here is a list of resources that can be used to gather historical economic date as well as forecast data; Bureau of Economic Analysis, Bureau of Labor Statistics, U. S. Department of Labor, U. S. Census Bureau, National Association of Purchasing Managers, Survey Research Center, University of Michigan, Standard & Poor’s, S&P 500, and the Federal Reserve. In the report we will focus on the Bureau of Economic Analysis, quantitative and qualitative forecasting, and Bureau of labor statistics. Bureau of Economic Analysis Bureau of Economic Analysis is the federal agency responsible for measuring the United States economy. BEA is responsible for what is produced, what is earned and how it is spent ("What Is the U.S. Bureau of Economic Analysis?" 2012). BEA provides a variety of economic statistics concerning national, international, and regional economic activity. BEA also provides statistics decisions that are influenced by government officials, businesspeople, households, and individuals. The Bureau of Economic Analysis contains both quantitative and qualitative forecasting factors. The Bureau of Economic Analysis is...
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...H4 Social Science Course Outline Introduction to Economics Second Quarter, School Year 2015-2016 Ms. Czarina Jayce S. Rivera and Mr. Gerome M. Vedeja Newsday: Labor Issues You are an investigative journalist for TIME magazine who is currently writing about the relationship of economic growth and the unemployment rate in the Philippines. You will create a feature article about the Philippine labor market showing qualitative and quantitative data and analysis. According to the National Statistical Coordination Board (NSCB), the Philippines’ Gross Domestic Product (GDP) growth for 2014 was at 6.1%, making our country one of the fastest growing economies in Asia. However, according to the National Statistics Office (NSO), unemployment rate remains at 7%. As an investigative journalist, you are trying to help the public reconcile that there is economic growth despite our deteriorating labor market. Using the data collected, you will select and analyse three statistics to show the current state of our labor market. Aside from this, you will supplement your quantitative analysis with qualitative information or data from minimum wage workers at SM. Your comprehensive investigation should justify your conclusion about the country’s economic condition. Depending on your conclusion, you will provide possible ways to sustain the current economic condition or solve the problem that our economy is facing. In doing so, you might want to focus on the labor market. You will...
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...Reflection-Economic Forecasting Paper ECO/372 November 26, 2012 University of Phoenix Week 2 Reflection-Economic Forecasting Viewing the economic standing of America may not be easy to comprehend, with all the economic terms and statistics. To assist with the economic terminology, and view what production/income, prices, and cyclical indicators are in the United States, an Internet website called AmosWEB Encyclonomic WEB*Pedia can retrieve resourceful information. This site has great information for a consumer to become familiar with economic terminology and economic standing. Some of this information on the site indicates the “Real GDP as of third quarter 2012, $15,775.7 billion (Annual Rate) Source: BEA, up 2.0% 1st Est. revised up from 1.3%. Unemployment as of October 2012 is 7.9% up from last month. This information was obtained from the Bureau of Labor and Statistics. The consumer Price Index W, as of August 2012 is 227.056.” A person can even view what the prime rate is for American loans which are 3.25%. AmosWeb pulls information from other sites and make it easier for consumers to view these numbers in one location instead of viewing different consumer sites. The U.S. Department of Commerce contains the Bureau of Economic Analysis, and this bureau maintains the website www.bea.gov. This website contains all of the BEA’s published information, including news releases and a comprehensive array of economic statistics...
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...Essential Elements of a Good Business Plan A business plan should be a work in progress. That's because your business will evolve over time, and be influenced by outside factors such as the economy and local conditions. Even successful business owners should maintain a current business plan to ensure they remain knowledgeable on the elements that can affect continued success. • Business Plan Executive Summary The executive summary is Part 1 of the business plan and is the most important section of your plan. It provides a concise overview of the entire plan, along with a history of your company. This section tells your reader where... • Market Analysis The market analysis section is Part 2 of the business plan. This section should illustrate your knowledge about the particular industry your business is in. It should also present general highlights and conclusions of any marketing... • Company Description The company description is Part 3 of the business plan. Without going into detail, this section should include a high level look at how all of the different elements of your business fit together. The company description section... • Organization & Management Organization and Management is Part 4 of the business plan. This section should include: your company's organizational structure, details about the ownership of your company, profiles of your management team, and the... • Marketing & Sales Management Marketing and...
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...MP A R Munich Personal RePEc Archive Economic Factors Influencing Corporate Capital Structure in Three Asian Countries: Evidence from Japan, Malaysia and Pakistan Muhammad Mahmud and Gobind M. Herani and A.W. Rajar and Wahid Farooqi KASBIT, KABIT, Sindh University, Indus Institute of Higher Education 20. April 2009 Online at http://mpra.ub.uni-muenchen.de/15003/ MPRA Paper No. 15003, posted 4. May 2009 07:34 UTC Indus Journal of Management & Social Sciences, 3(1):9-17 (Spring 2009) http://indus.edu.pk/journal.php Economic Factors Influencing Corporate Capital Structure in Three Asian Countries: Evidence from Japan, Malaysia and Pakistan Muhammad Mahmud*, Gobind M. Herani** A. W. Rajar*** and Wahid Farooqi**** ABSTRACT This study is an attempt to determine the factors that influence a firm’s choice of capital structure in three Asian countries: Japan, Malaysia and Pakistan. The specific objective is to investigate if country’s economic factors play a significant role in determining capital structure between markets. These countries are chosen in order to represent three different stages of economic development. Literature review reveals that considerable research has been made in the industrialized countries on the similar topic. Capital structure is one of the most complex areas of strategic financial decision making due to its interrelationship with macroeconomic variables. This study reveals that per capita GNP growth for Japan and Malaysia is significantly...
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...Economic Modelling 28 (2011) 1348–1353 Contents lists available at ScienceDirect Economic Modelling j o u r n a l h o m e p a g e : w w w. e l s ev i e r. c o m / l o c a t e / e c m o d Foreign direct investment and China's regional income inequality☆ Kang Yu a, Xian Xin b,c, Ping Guo a, Xiaoyun Liu d,⁎ a School of Economics and Management, Zhejiang Forestry University, Zhejiang, 311300, PR China Center for Rural Development Policy, China Agricultural University, Beijing, 100083, PR China c College of Economics and Management, China Agricultural University, Beijing, 100083, PR China d College of Humanities and Development Studies, China Agricultural University, Beijing, 100083, PR China b a r t i c l e i n f o a b s t r a c t China's widening regional income inequality coupled with its pronounced regional disparity in foreign direct investment stock since 1990 has claimed the attention of many scholars. While some researchers confirm regional disparity in China's foreign direct investment, others attribute the widening regional income inequality to this regional disparity. This paper thus assesses the impacts of China's stock of foreign direct investment on its regional income inequality using simultaneous equation model and the Shapley value regression-based decomposition approach. Our results suggest that China's stock of foreign direct investment has accounted for merely 2% of its regional income inequality. Furthermore, the contribution ratio of per...
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...Economic Forecasting Paper By ECO/ 372 November 18, 2013 Learning Team Reflection Week Two List of resources to gather historical economic data and economic forecast data Some of the resources, which are useful to gather historical data as well as forecasting the new data include Bureau of Economic Analysis, U.S. Department of Commerce and FRED, Economic Time-Series Database, Bureau of Labor Statistics, Census Bureau, Congressional Budget Office (CBO), Office of Management and budget (OBM), Federal Reserve Releases (FRB), NBER'S Macro-Historical Database, New York's Fed's statistics and data, Statistical abstract of the United States and CIA world fact book. How and why each source is valuable and useful FRED database; allows citizens to see how the country's financial state is. The data includes the national economic and financial date “including interest rates, consumer price indexes, employment and population and trade data. The Bureau of Economic Analysis; includes estimates concerning national, international, and regional economic activity. It also provides statistics decision influenced by the government officials, business people, households and individuals.” (History matters. 2013. Para 3, 5). The Bureau of Labor Statistics gives specific information about employment, unemployment, consumer price index, and producer price index. The Bureau of Labor Statistics updates the...
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...Justine joy balberanImportance of Statistics in Different Fields Statistics plays a vital role in every fields of human activity. Statistics has important role in determining the existing position of per capita income, unemployment, population growth rate, housing, schooling medical facilities etc…in a country. Now statistics holds a central position in almost every field like Industry, Commerce, Trade, Physics, Chemistry, Economics, Mathematics, Biology, Botany, Psychology, Astronomy etc…, so application of statistics is very wide. Now we discuss some important fields in which statistics is commonly applied. (1) Business: Statistics play an important role in business. A successful businessman must be very quick and accurate in decision making. He knows that what his customers wants, he should therefore, know what to produce and sell and in what quantities. Statistics helps businessman to plan production according to the taste of the costumers, the quality of the products can also be checked more efficiently by using statistical methods. So all the activities of the businessman based on statistical information. He can make correct decision about the location of business, marketing of the products, financial resources etc…(2) In Economics: Statistics play an important role in economics. Economics largely depends upon statistics. National income accounts are multipurpose indicators for the economists and administrators. Statistical methods are used for...
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...Growth Model to the Economy of Pakistan: A Cointegration Approach Haider Mahmood (Corresponding Author) Research Scholar, National College of Business Administration and Economics, Lahore, Pakistan. E-mail: mic6699@gmail.com Amatul R. Chaudhary Director School of Economics, National College of Business Administration & Economics, Lahore, Pakistan Abstract During the last few decades, governments of developing countries have increasingly viewed foreign direct investment (FDIs) as a catalyst for economic growth. This study investigates the impact of FDI on economic growth of Pakistan by using Endogenous Growth Model. Out of a number of variables affecting economic growth, few have been taken into our model e.g. Foreign Direct Investment (FDI), Domestic Savings, Employed Labour Force, Capital Formation, Human Capital Index and Balance of Trade. The study examines the causality among economic Growth and all variables mentioned above over the period 1972-2005 using Johansen‟s maximum likelihood co-integration test and multivariate Granger causality test developed by Yamamoto and Toda (1995). The results of Granger causality indicated that in the short run, economic growth is caused by FDIs, domestic savings, human capital index, employed labour force and balance of trade. Keywords: Foreign Direct Investment, Economic Growth, Causality, Human Capital Index. 1. Introduction During the recent decades, Foreign Direct Investment (FDI) as a growth-enhancing component has received great attention...
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...DISCUSS THE TEN TIPS OF BUSINESS AND ECONOMIC NEWS WRITING AND REPORTING BY PAUL HEMP. BUSINESS AND ECONOMIC NEWS WRITING TIPS BY TO PAUL HEMP Paul Hemp is an experienced and innovative writer, editor and communications executive. Currently he is the director of Global Thought Leadership at HCL Technologies. In his book, Ten Practical Tips for Business and Economic Reporting in Developing Economy, Mr. Paul Hemp talks about the ten Hemp rules. These rules are aimed at making business and economic stories, understandable and interesting. According to Hemp, The basic problem with business and economic news is that they are complicated and boring. Complicated news bores people. A journalist must make it understandable and interesting. He adds that the three rules of making stories understandable are explain, explain and explain. This former Senior Editor at Harvard Business Review, says in his book that Business, financial or economics journalists could improve the effectiveness of their communication if they followed a few simple rules: 1. Use statistics sparingly 2. Avoid economic jargon 3. Define economic terms 4. Compare statistics 5. Turn statistics into stories 6. Humanize business news 7. Generate unusual business story ideas 8. Go beyond the press release 9. Get the other side to a business story 10. Show the significance of business news 1. Use statistics sparingly A financial, business or economics journalist should always use numbers...
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