focus problem: impulse buying let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. based on a denver post article, the mean of the x distribution is about $20 and the estimated standard deviation is about $7. (a) consider a random sample of n  100 customers, each of whom has 10 minutes of unplanned shopping time in a supermarket. from the central limit theorem, what can you say about the probability distribution of the average amount spent by these customers due to impulse buying? what are the mean and standard deviation of the distribution? is it necessary to make any assumption about the x distribution? explain. (b) what is the probability that is between $18 and $22? (c) let us assume that x has a distribution that is approximately normal. what is the probability that x is between $18 and $22? (d) interpretation: in part (b), we used , the average amount spent, computed for 100 customers. in part (c), we used x, the amount spent by only one customer. the answers to parts (b) and (c) are very different. why would this happen? in this example, is a much more predictable or reliable statistic than x. consider that almost all marketing strategies and sales pitches are designed for the average customer and not the individual customer. how does the central limit theorem tell us that the average customer is much more predictable than the individual customer?
focus problem: impulse buying let x represent the dollar | studysoup
 soc 100 week 11 chapter 8 social stratification  o working class 33%  focus on getting by  slightly favor liberal, but not by much  targeted by political candidates due to variability   value social life, education is necessary evil o lower class 20%  living on the edge or apathy   stays pretty consistent percentage­wise  2008 grew to 25%  religion – if there is one in the neighborhood they go, if not they don’t  new class society o upper class is 20%  upper, small diamond shape o lower/middle is 80%  lower, large diamond shape o illustrates distribution better   does not correspond to wealth distribution  clicker­ what class did you grow up in? o overwhelmingly middle class  clicker – where will you be in 20 years? o overwhelmingly middle class, and some upper  who gets ahead – christopher jencks o education *  years of certain levels of education o who your parents are *  how many children  father’s career o luck o race o sex o hard work o * education and parents are most important)  functionalist see it as acceptable­ education requires hard work  conflict – we don’t choose our parents, so it’s not fair  income has been rising steadily since 1950 o however, distribution does not show change as equal among classes  highest 20% income has risen greatly  but as you go down the classes, income has remained almost the same  from 1940’s – 1980 the increase in income was relatively equally  distributed 
  now­ only the upper classes are seeing a rise in income   clicker – will you be better off fincancially than your parents o 40% yes o 30% no or uncertain  more billionaires than ever o 2003­ 262 billionaires o 2016 – 1810 billionaires o riches – bill gates $75 billion o richest women ­ $36.1 billion o oprah – 3 billion o pat striker 2.3 billion  from fort collins  likely the “anonymous” donator that donated 25 million for stadium o u.s has 8 of the top 10 billionaires   national study – “differences in income in us are too large” o class figures – 61% agree, 10% disagree o national study­ 65% agree, 14% disagree  some billionaires agree  the giving pledge – billionaires donating half of their wealth  reasons for lower class mobility in us o rise of the money culture   making money > content/enjoyment of life o bank deregulation in 1980’s and 1990’s  harmful to majority of us, beneficial to super wealthy  o technology – jobs done by machines o rise of emerging markets, especially in china and india  clicker­ emily and mark are high school teachers, volunteer every weekend, and are very religious­ what class are they in? o correct answer= average middle class  poverty o relative poverty: poorer in relation to others with more money o absolute poverty: deprivation of resources that is life­threatening or inability to  afford minimum standards of food, clothing, shelter, and health o most poverty in us is relative poverty   who is responsible for poverty o blame the poor: the poor are mostly responsible for their own poverty  (functionalist) o blame society: society is primarily responsible for poverty (conflict)  national study­ who’s responsible for helping the poor o 27% government o 24% people should take care of themselves o 46% combination of both   what is major cause of poverty? 
 o us, japan, australia – lack of individual effort o mexico, sweden, germany­ societal injustice   poverty rate in us o normally assume a family of 4 with 2 kids under 18  o current­ 47 million  14.5% us population   $24,250/year  o 55% more than current poverty rate = 73 million, 22.5% us population  $37,588 / year  o lifestyle of those at 155% of poverty rate  never go out to eat, to movies, entertainment, don’t take vacations, hire  babysitters, buy anything in excess  who are the poor o age:   19.9% of children under 18  9.5% of elderly 65 and above o race/ethnicity  28% of native americans   27% of african americans  23.5% of hispanic americans  10.5% asian americans  9.6% white o sex/gender  31% of female head of household  16% male head of household o workers  14% of the poor work full­time  45% of the poor work at least part­time  to reach 155% of poverty, you need to make $18.07/hour   well over minimum wage  hidden costs of class o judgement from others o feelings of hopelessness  o acceptance of symbols of inability o loss of dignity and a sense of accomplishment   homelessness o 25­40% work o 37% are families with children o 25% are children o 25­30% are mentally disabled o 30% are veterans o 40% drug and alcohol dependent  cure for poverty? 
 o answer depends on whom you blame  clicker­ welfare vs. wealthfare­ what does government spend most money on? o 64% said health care for richest 10% of elderly medicare beneficiaries  correct answer   clicker – government housing subsidies end up going to ­? o more to the middle class than the poor   welfare distribution o distributed unequally in a manner that is deemed best o everyone gets some sort of entitlement   how are we doing? o us is one of richest nations and has one of highest standards of living o some members of our society are benefitting handsomely while others are not o “rich getting richer, poor are getting poorer, so it all averages out” 