Give at least three examples from business and/or economics where each of the fo

Question

Give at least three examples from business and/or economics where each of the following type of data can be used: cross-sectional data, time series data, and panel data. For these examples, please, identify:

i. What graphs could be used to describe your data? Give an example.

ii. What tables could be used to describe your data? Give an example.

iii. What research question could answered using the given data?

iv. What methods could be used to answer your research question?

v. Analyzing the effect of minimum wage changes on teenage employment across the 48 contiguous U.S. states from 1980 to 2010 is an example of using __________________ data.

Explanation / Answer

GDP for serveral quarters or years, monthly production of a particular product and stock price of a stock exchange company for every day are the example of time sereis data

crime rates for 50 states in the United States for a given year, import/export of a particular product in the different country in a given year and number of cases in a court in the states in a given year are the example of cross-sectional data

Line graph could be used to describe your data

use a specific format to create time series tables and virtual tables to describe your data

Analyzing the effect of minimum wage changes on teenage employment across the 48 contiguous U.S. states from 1980 to 2010 is an example of using ___Panel___ data.

10 years of data of crime rates for 50 states in the United States and import/export of a particular product in the different country in 10 years are the example of Panel data

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