Question: Two researchers are given 2 datasets from the World Bank regarding the saving behavior of households in Kenya. The currency in Kenya is the shilling (KES). At the current exchange rate 107.850 KES = 1USD. Each of the n = 150 observation in the dataset is sampled from the same population of households but the observations contained in each dataset are not necessarily the same. Each researcher is asked to provide an estimate for the probability that a household saves more than 10,000KES a month.
a) Propose a consistent estimator for the probability that a household saves more than 10,000KES a month
b) The two researchers would also like to compute the sample average for the household savings. What is the probability that the two reaserchers will have the same estimate?
Sample Solution
user generated content. Originally the state of the internet in its infancy was much more akin to traditional forms of information. Although information could now be transmitted digitally there was still no room for interactivity. The internet at this stage was titled web 1.0. This version of the was described as read-only. Here large organisation and corporations could use the web to deliver information or online brochures to a large audience of individuals who could access the internet (Aghaei, S, et al 2012) These individuals could obtain the information directly source but the boundaries of web 1.0 did not grant individuals the ability to interact with this information (Getting, 2018). Overall web 1.0 was static and favoured large corporations as they could supply the content they wanted. For destinations, this meant they could produce an image of their destination online that was created solely by them allowing their best foot to be put forward and delivering an appealing impression of the destination. However, this was just the start of something unprecedented and the world wide web would continue to change. In 2005 the internet saw what was known as the second generation of the internet commence. This second generation of the world wide web was to be known as web 2.0 Noti, E., 2013. The term web 2.0 officially outlined in 2004 by Dale Doughtery, vice president of OâRiley media. Web 2.0 would become synonymous with various descriptions such as; the wisdom web, the participate web and the people centric web. Overall web 2.0 allowed for a web that was bi-directional meaning that both the provider (the website creator) and the end user could interact on the web. Web 2.0 did not just facilitate the interaction between companies and end users but between end user and end user or peer to peer. Rather than the controls of web 1.0 that granted companies with most of the power, web 2.0 loosened these controls an allowed for the birth of online communities and bi-directional communication. As web 2.0 grew so too did the number of individuals using the web. This new form of the world wide web allowed potential, existing and current customers of products and services to impart their opinion on their purchase. This opinion could be either positive or negative and has a profound effect on the opinions of potential customers and on those researching products and services. This advancement in communication on>
user generated content. Originally the state of the internet in its infancy was much more akin to traditional forms of information. Although information could now be transmitted digitally there was still no room for interactivity. The internet at this stage was titled web 1.0. This version of the was described as read-only. Here large organisation and corporations could use the web to deliver information or online brochures to a large audience of individuals who could access the internet (Aghaei, S, et al 2012) These individuals could obtain the information directly source but the boundaries of web 1.0 did not grant individuals the ability to interact with this information (Getting, 2018). Overall web 1.0 was static and favoured large corporations as they could supply the content they wanted. For destinations, this meant they could produce an image of their destination online that was created solely by them allowing their best foot to be put forward and delivering an appealing impression of the destination. However, this was just the start of something unprecedented and the world wide web would continue to change. In 2005 the internet saw what was known as the second generation of the internet commence. This second generation of the world wide web was to be known as web 2.0 Noti, E., 2013. The term web 2.0 officially outlined in 2004 by Dale Doughtery, vice president of OâRiley media. Web 2.0 would become synonymous with various descriptions such as; the wisdom web, the participate web and the people centric web. Overall web 2.0 allowed for a web that was bi-directional meaning that both the provider (the website creator) and the end user could interact on the web. Web 2.0 did not just facilitate the interaction between companies and end users but between end user and end user or peer to peer. Rather than the controls of web 1.0 that granted companies with most of the power, web 2.0 loosened these controls an allowed for the birth of online communities and bi-directional communication. As web 2.0 grew so too did the number of individuals using the web. This new form of the world wide web allowed potential, existing and current customers of products and services to impart their opinion on their purchase. This opinion could be either positive or negative and has a profound effect on the opinions of potential customers and on those researching products and services. This advancement in communication on>
