3. What will happen to the S&P500? At beginning of the Fall 2013 semester we ask

Question

3. What will happen to the S&P500? At beginning of the Fall 2013 semester we asked Stat 226 students to predict the behavior of the S&P 500 value at the end of the semester. Students were asked the following question: What do you think, will the S&P 500 index be higher at the end of the semester in comparison to its value on 23 August 2013? Note that the closing value for 23 August 2013 was 1,663.50. Because the question was posted in Blackboard we were able to collect all responses. For a random sample of students the responses are saved in a .JMP file called Responses-S&P500.JMP. Use these data and JMP to answer the following questions. (a) How large is the random sample, i.e. how many observations does the data set consist of? (b) What type of variable is the variable of interest? i. Quantitative Variable ii. Nominal Categorical Variable iii. Ordinal Categorical Variable (c) If you answered ‘Categorical’ in the previous question, how many categories does the variable of interest consist of? If you answered ‘Numerical’, what is the range of values the variable can take on?

Explanation / Answer

a)

how many observations does the data set consist of?   226 students

b) What type of variable is the variable of interest?

Ordinal Categorical Variable because it is an opinion

(c) If you answered ‘Categorical’ in the previous question, how many categories does the variable of interest consist of

higher or lower

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