Question 1. The economic downturn in 2008-2009 resulted in the loss of jobs and an increase in delinquent loans for hous

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Question 1 The Economic Downturn In 2008 2009 Resulted In The Loss Of Jobs And An Increase In Delinquent Loans For Hous 1 (38.04 KiB) Viewed 24 times

Question 1 The Economic Downturn In 2008 2009 Resulted In The Loss Of Jobs And An Increase In Delinquent Loans For Hous 2 (58.67 KiB) Viewed 24 times

Question 1. The economic downturn in 2008-2009 resulted in the loss of jobs and an increase in delinquent loans for housing. To project where the real estate market was headed in the coming year, economists studied the relationship between the jobless rate and the percentage of delinquent loans. The expectation was that if the jobless rate continued to increase, there would also be an increase in the percentage of delinquent loans. The data set joblessrate show the jobless rate and the delinquent loan percentage for 27 major real estate markets. a. Compute the correlation coefficient. Is there a positive correlation between the jobless rate and the percentage of delinquent housing loans? What is your interpretation? b. Show a scatter diagram of the relationship between the jobless rate and the percentage of delinquent housing loans. c. Find the city with the median jobless rate? d. Compute the 56 percentile for the delinquent loans rate. What cities are above and below that percentile?

Metro Area Jobless Rate (%) Delinquent Loans (%) Atlanta 7.1 7.02 Boston 5.2 5.31 Charlotte 7.8 5.38 Chicago 7.8 5.40 Dallas 5.8 5.00 Denver 5.8 4.07 Detroit 9.3 6.53 Houston 5.7 5.57 Jacksonville 7.3 6.99 Las Vegas 7.6 11.12 Los Angeles 8.2 7.56 Miami 7.1 12.11 Minneapolis 6.3 4.39 Nashville 6.6 4.78 New York 6.2 5.78 Orange County 6.3 6.08 Orlando 7.0 10.05 Philadelphia 6.2 4.75 Phoenix 5.5 7.22 Portland 6.5 3.79 Raleigh 6.0 3.62 Sacramento 8.3 9.24 St. Louis 7.5 4.40 San Diego 6.91 San Francisco 6.8 5.57 Seattle 5.5 3.87 Tampa 7.5 8.42 7.1